Not to miss step in either direction, whether that is cutting Interest Rates too soon or too little too late. He will have more to say in front of the Senate Banking committee on thursday. In other news making headlines, a former Google Software enginer has been indicted in california on charges of stealing Trade Secrets related to the compay s Artificial Intelligence technology. Our Asia Business correspondent katie silver has been tracking the developments and joins us live from our newsroom with the latest. Arrested at home in california charged with his former counts of stealing on behalf of two Chinese Companies stealing ai. What we understand he still was data related to googles large model of learning is, what theyre doing in order to train up theyre doing in order to train up their big data centres. It is alleged that he started the company in 2019 as a software engineer, did hisjob legally for three years and then in 2022, started being courted to be the chief Technology Offic
Silva has been watching him in the newsroom, keeping tabs since he started addressing the press. What has he been saying . The biggest theme is presenting china as an International Statesman when it comes to global peace and security. He said it is about a winner when a corporation, that chinas Development Help the rest of the world and that china is interested in creating a shared prosperity with a community for shared future of mankind. He spoke about the progress for the global south. This was in opposition to the way they characterised, what ideals are later on between the relationship of us china, characterising instead that the us has been after for themselves. They say china is willing to improve the dialogue and they talk about hopes after the summit last year in San Francisco of Mutual Respect and peaceful cooperation. They said the hazard some improvements but the us was targeting china and with bewildering levels of ungovernable uncertainty. He also said if the us is pressin
Projection that we present today is very much into parts. Im going to begin with the first part. Starting near term outlook. This chart shows the evolution of Consumer Price inflation and its components since 2018. It shows that inflation has come off the peak in october last year and that it continues to fall over the rest of this year in our near term projection. Thats the piece showed in the shade of part of the chart. This fall can be attributed in large part to a full on contribution from energy. Fuel prices have declined, electricity and gas prices have stabilised, albeit at a higher level. The Dark Orange Bars on this chart show how the contribution from Energy Prices falling and turning negatively in the coming months. Giving off gems price cap on energy and gas bills, we expect inflation to take a further step down in the july dates will be published in two weeks time. That will come down to around 7 at that point. Following a larger step down in 0ctober s data to around about
And in the euro area, where wholesale Energy Prices feed through more directly to Consumer Prices. Where there is more uncertainty is around the time it will take the other non Energy Components of the Consumer Price of Consumer Price inflation to come down as well. Price inflation for food and Non Alcoholic beverages has been very high, but it does appear to have peaked. And as you can see in this chart, there are signs in the monthly figures that it has started to ease. And evidence collected by the banks Regional Agents suggests that a moderation in food inport prices is being passed through the supply chain to Consumer Prices. So we do expect that food Price Inflation will come down gradually over the rest of this year. The Shadow Chancellor has said the Interest Rate rise weve seen today is another hammer blow to families who are seeing their mortgages increase. Rachel reeves said that the government needs to force the banks and lenders to do more to Mortgage Holders help includin
the vast majority of american film and television productions, including the avatar and gladiator sequels. it wants assurances about the use of artificial intelligence. 0ur correspondent is out on the picket lines in new york. tell us what you have been here hearing and seeing there. what you have been here hearing and seeing there- seeing there. yeah, we have seen a number of seeing there. yeah, we have seen a number of familiar seeing there. yeah, we have seen a number of familiar faces seeing there. yeah, we have seen a| number of familiar faces here on the picket line, including stars like susan sarandon and olivia wilde. and many, including the writers guild, other unions havejoined many, including the writers guild, other unions have joined to show their solidarity. other unions have joined to show theirsolidarity. every other unions have joined to show their solidarity. every time a few cars pass by it we hear occasionally some honks in support. so some real mom