about credit conditions. major us stock indexes fell more than 1% each on tuesday. shares in several regional banks in the us have dropped sharply, as investors fear the banking crisis is not over. another area of concern is the labour market, which, while still strong, is showing signs of cooling. so what will america s central bank do and say? the bbc s michelle fleury reports from westchester, new york. losing momentum after nine rate hikes in the past year. the federal reserve s efforts to cool the us economy are having an effect. this is a chain that you ll see on like roller shades and vertical blinds. something bill, who runs a family owned manufacturing business in westchester, new york, is seeing first hand. right now, we re expecting some softness in the marketplace for probably six months or so. we re seeing a lot of softness in the marketplace as far as demand, the commitment in terms of like long term blanket orders with customers. we re not seeing that either ri
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
with her majesty, she will become the 56th uk prime minister the third woman in number ten. labour s deputy leader, angela rayner, says mrjohnson has missed opportunities to fix problems after the last few months. we ve seen borisjohnson going around having his holidays, and enjoying himself, when the rest of the country have been absolutely petrified. i have got businesses locally who have been there since prewar, who are saying that they will not be able to survive. hello and welcome from downing street where later today, liz truss will enter the famous door at number ten as the uk s new prime minister, after being announced yesterday as leader of the conservative party. the man she ll take over from, borisjohnson, has arrived in aberdeenshire to meet the queen in balmoral and formally resign from office. earlier this morning, here in downing street, he delivered a farewell speech extolling his own record as prime minister and calling on the conservative party to get
senator chris murphy and ben o rourke, the current candidate for texas governor. we have a lot to ask both of them, but first. one revelation that we got yesterday about donald trump s attempt to overturn the 2020 election did not come from the big public hearing yesterday about the january 6th investigation. rather, it came from mother jones magazine, which contained leaked audio of this guy, steve bannon, former white house advisor, and double layered buttoned down shirt aficionados. the audio is from a few days before the 2020 presidential election. rewind a little bit, and remember with me. a couple months earlier, he had been arrested on charges that he had been milking unexpected donors out of their money by telling them that their nations would go towards building a wall on the southern border, when in fact the money was going into steve bannon s pockets! bannon was arrested on this luxury yacht off the coast of connecticut. it is a yacht belonging to an exiled chinese