let s start in the us where some of the worlds leading money managers are warning the collapse of another american bank could lead to a credit crunch and an economic slowdown. constrained lending as a result of stricter banking regulation could stifle credit to the us economy at a critical time. we ll get an expert view on this in a moment but first here s my colleague samira hussain on the collapse of first republic. as of monday, first republic customers turning up at their bank are in fact customers ofjp morgan chase. the signs above will soon change. first republic had been under pressure since the collapse of silicon valley bank and signature bank two months earlier. last week, first republic revealed deposited had removed $100 million in the space of a few months. customers feared their money was not safe. investors became convinced that it too was about to fail. riding to the rescue of america s distressed financial system, the boss of america s biggest bank, jamie dim
tonight, bringing us the context are stefanie brown james, co founder of collective pac, the group campaigning for equal representation in american politics, and former ukjustice secretary and chief secretary to the treasury david gauke. welcome to the programme. for several days now western leaders have been providing political cover for the german chancellor, while privately venting frustration at his reluctance to send the leopard tanks to ukraine. according to german newspapers his refusal to approve the deliveries on friday, at a meeting of nato defence ministers, led to sharp words between him and the us secretary of defence lloyd austin. olaf schulz s office deny that, saying neither the tone nor content of the reports were true. but certainly there was frustration, and you could hear it when the bbc spoke, earliertoday, to the polish prime minister, who has decided to go it alone. let me put it this way, poland and the free world cannot afford not to send leopard ta
parts of europe, including germany. in parts of europe, including germany- parts of europe, including german . , ., germany. in terms of the impact this is having germany. in terms of the impact this is having on germany. in terms of the impact this is having on consumer- this is having on consumer behaviour, what do we see across europe? behaviour, what do we see across europe? there is a bit of consumer across europe? there is a bit of consumer hesitation, - across europe? there is a bit of consumer hesitation, of i of consumer hesitation, of course, yes, consumer incomes have been hit by very high energy and food prices, but the mood among consumers has brightened noticeably now that the winter is over, now that we know we have made it through the recent heating season without any gas shortages and without any gas shortages and with gas prices reasonably coming down somewhat, so consumers probably commit despite inflation still being high, will be ready to spend a bit more m
said that in fact the uk had in fact suffered one of the worst rates of growth among g7 economies and was not, as they had previously suggested, among the best performing. they blamed the error on a manual error. that corrected figure does seem to chime with business sentiment across the country. there has been a rather nasty combination of factors this past 12 months. even if inflation has peaked, the costs are still rising, consumer incomes are falling, and all of it at a time when government support for business is being withdrawn. and the reason the treasury is pulling its horns in is because government borrowing that s the difference between spending and tax income hit £27.4 billion in the month of december. that is the highest it has been for any december since records began in 1993. not that we are alone. the us hit the debt ceiling last week, which means the us treasury is using extraordinary measures, like running down cash balances, and deferring payments to pension fund
laura: i m sure he saved kittens from trees, larry, but this is the country going down the tubes. i ve got to say i love you and your my favorite people, everybody s friends at new york. that s great. our country is falling apart. these people are lying about it. i don t think we can mince words at this point. they are lying to the american people. i m sorry to jump on you. i m fed up with it. yes, i understand. but anna clinically, i don t know what you re talking about because in fact he s talking about consumer incomes. look at them a after inflation are falling. small business incomes after inflation are falling. so, i m not sure where he s coming from on this. look at, the federal reserve blew this one year ago. i don t know why jay powell has been reappointed. he certainly doesn t deserve it. people don t have confidence.