civil servants. meanwhile, separate data from the bank of england shows british lenders reported a sharp increase in the rate at which households and businesses defaulted on loans such as mortgages. the chancellor said the economic outlook was still brighter than expected. let s bring in the chief economist at kpmg. the uk economy remains weaker than any other country in the g7. we still have twin drives of high inflation and rising interest rates. how resilient do the you think the uk economy is? the latest data has been think the uk economy is? the latest data has been more think the uk economy is? the latest data has been more positive - think the uk economy is? the latest data has been more positive than i data has been more positive than what we feared late last year so it seems like the overall economy is more resilient and the majority of the weakness that we saw more recently is related to strikes rather than any fundamental weakness of the economy but obviously w
inauguration of a new bank on shanghai. the new development bank has been set up by the brix group, that s brazil, russia india and china and south africa and president lula said the new financial institution frees developing countries from established ones our business reporter has more on the significance of this trip. on the significance of this tri -. , ., ., , trip. the goal in his own words is to strengthen trip. the goal in his own words is to strengthen the is to strengthen the relationship. and at least when it comes to business ties our already pretty significant. china is brazil s biggest export market, each year buying tens of thousands of billions of dollars of natural resources and agricultural products, including soybeans, iron ore, oil and be for that while brazil according to chinese state media is the biggest recipient in latin america. president lula da silva needs more of it if these two bruised brazil s stagnant economy. that s why the brazilian gover
welcome to bbc news. we start with president biden who s made an impassioned defence of the good friday agreement 25 years after it was signed. he said northern ireland will not go back that the enemies of peace will not prevail. he was talking to students at ulster university where he talked about the need for renewal and repair it matters to me personally he said. the president is expected to land at dublin airport in the next half an hour the start of three days in ireland a mix of politics and events linked to his strong irish roots. more on that in a moment. but it s been a busy, busy day for the president. it started with a meeting with rishi sunak, both expressing their hope that power sharing can be restored. joe biden also met the leaders of the five main parties off camera he said he was in listening mode. these the pictures after the president spoke at the university, he clearly was enjoying every bit of the visit it was so obvious the way he en
its lowest level for nearly two years. consumer prices rose by 5% of the year to march, a far cry from the 9% it was that in june. but there are warnings of a possible recession in the pipeline. our business reporter is katie silver, she s been looking through the dater and joins me now on the programme. great to have you on the show. this looks pretty optimistic, doesn t it was back it s good news it isn t it? it’s doesn t it was back it s good news it isn t it? news it isn t it? it s good news it isn t it? it s good news but it news it isn t it? it s good news but it needs - news it isn t it? it s good news but it needs to - news it isn t it? it s good news but it needs to be i news but it needs to be analysed further and taken with analysed further and taken with a grain of salt. inflation is down and there are warnings every session but still we are hearing the fed may hike rates for the three things that don t normally go together. in terms of the inflation figure w