germany s public transport network will be at a near stand still today as two of the country s largest unions strike in an ongoing dispute over pay. workers walked out shortly after midnight for 2h hours. two of the country s largest unions which are demanding significant pay rises for their workers want to increase the pressure on employers ahead of another round of negotiations. there ll be all but no trains, planes or ferries in operation after workers walked out, and motorists have been warned that staff who maintain motorways and repair road damage after accidents are also on strike. damage after accidents let s are also on strike. talk about the impact of all let s talk about the impact of all of this. joining me now is christian schulz, deputy chief european economist at citi. they seem huge. what sort of impact will the strikes today across germany? impact will the strikes today across germany? well, good morning- across germany? well, good morning. everything
we start here in the uk, where in the next few hours prime minister liz truss will unveil a multibillion pound plan to protect consumers and businesses from soaring energy prices. typical household energy bills could be capped at around 2,500 pounds a year, with companies also likely to get help. but the cost of subsidising bills is likely to be astronomical. the prime minister has ruled out tax increases, and further windfall taxes on energy firms. so, it could mean extra government borrowing of at least a hundred billion pounds. our business editor simonjack has more. heat means energy means bills, huge bills. this woman employs so many people at her glassblowing business but won t belong without an edgy lifeline. ~ , belong without an edgy lifeline. y , ., belong without an edgy lifeline. g , ., lifeline. my staff are terrified lifeline. my staff are terrified not - lifeline. my staff are terrified not only - lifeline. my staff are terrified not only fori lifeline. my
us financal watchdogs target two more big names, the exchange genesis, and the crypto lender gemini. plus, pack your bags, travel is back. but where are people going? we ll hear from the boss of hotel booking site trivago. we start here in the uk, where we could get confirmation, in the next hour or so, that the economy is heading into recession. figures for november are expected to show a fall in britain s gdp, gross domestic product or economic output, after growth ofjust 0.5% in october. we already know the uk economy shrank in the three months to september, two quarters in a row of negative growth means a recession. businesses and consumers are feeling the pressure of soaring energy bills and rising interest rates, as one company owner has been telling the bbc. from our point of view, we can feel that yeah there is probably a recession coming on. people are finding it difficult, they are kind of worried about their basic of heating and fuel and all the rest of it in the w
hello and welcome to audiences in the uk and around the world. we start on wall street where stock markets have suffered their worst first half of the year in more than five decades. as of the close on thursday, the s&p 500 index of top us firms has lost more than 20% between january and june, a sell off on a scale not seen since 1970 when president nixon was in the white house. for the tech dominated nasdaq, it s been even worse a near 30% fall for the first half is the worst in its history. from new york, samira hussain has more. the sell off of the stock market over the last six months has been brought. it is not just one sector bearing the brunt of losses, but a range of companies from disney to apple tokamak target. the latest economic data indicates actually the road ahead may be getting even bumpier. the federal reserve s regional bank in atlanta has been closely watched for the gross domestic product and gdp, which today signalled that the us economy will have shrun
european union leaders have agreed a compromise plan to block more than two thirds of russian oil imports. european council chief charles michel said the deal cut off a huge source of financing for the russian war machine. he added that it put maximum pressure on russia to end the war . european commission president ursula von der leyen praised the deal. i m very glad that the leaders were able to agree in principle on the sanctions package. this is very important, thanks to this council should now be able to finalise a ban on almost 90% of all russian oil imports by the end of the year. joining me now is janet mui, investment director, brewin dolphin. yesterday the oil price was up around $120 a barrel. what will this do to relieve the pressure on the oil price? this will incrementally support the oil prices, of course we also have the story that china is reopening shanghai so that will also put pressures on oil price. i think so far the supply from russia will be diverte