I m ritika gupta. Welcome to business today, live from New York, us shares have made a strong start this thursday as investors wrap their heads around Thatjumbo Half Percent cut in Interest Rates from the Federal Reserve and later comments from chairjerome powell. Was it a Panic Measure in response to a sharp slowdown in the economy . Traders remember similar moves just before the Dotcom Crash the Global Financial Crisis and the pandemic. Well, in his Press Conference Mr powell was keen to dispel any such negative thoughts. The us economy is in a good place and our Decision Today is designed to keep it there. More specifically the economy is growing at a solid pace. Inflation is coming down closer to our 2 objective over time and the Labour Market is still in solid shape. Our intention is really to maintain the strength that we currently see in the us economy. Lets bring in steven schoenfeld, ceo of financial Data Provider marketvectors here in New York. We see equities rallying today.
Caution at the Bank Of England. It keeps Interest Rates on hold but the governor tells us they are optimistic that Borrowing Costs are on the Path Down. Over on Wall Street though the party is back on. Shares hit a new Record High as the fed says the economys in a good place despite Itsjumbo Rate cut billion dollar breaks Australias Economy rides a wave of interest in surfing. It is the government fully with the sport . All those puns to come a little later in the programme. We start here in the uk where the bank of England Governor Andrew Bailey has said Interest Rates are now gradually on the Path Down despite the Banks Decision to keep the cost of borrowing on hold today. The banks main rate was left at 5 after it was cut last month for the first time in more than four years. The bank ratcheted up Interest Rates to try and control inflation which hit a peak of 11. 1 back in 2022. Since then inflation has been brought down significantly its sitting just above the banks target curre
programme is proving a big hit, we ll explain why. more now on the controversial move from the uk government to change key elements of the so called northern ireland protocol, the post brexit trade agreement reached with the eu in 2019. the european union is threatening legal action against the uk warning it would undermine trust and make it harder to negotiate a way out of the impasse. the eu trade commissioner, valdis dombrovskis, says the uk must still cooperate with the eu to make the northern ireland protocol it negotiated work, he was speaking to our global trade correspondent, dharshini david. regard northern ireland protocol we clearly expect uk to respect the agreement which it has negotiated. we know there are issues related to the practical implementation of northern ireland protocol but we have come also with a number of proposals including bespoke arrangements, others practical concerns can be addressed. we know from concerns can be addressed. we know from our
The official brexit talks get under way between the United Kingdom and the European Union. In central portugal, extensive areas have been evacuated as forest fires continue to spread at least 62 people have died. And, a cultural giant reborn we visit dublin to see the wonders on display at the new Look National gallery. And coming up in Sportsday On Bbc News a morale boosting win for england, as the Under 21s Come From Behind to Beat Slovakia in their European Championships Group game in poland. Good evening. Police are still questioning a man on suspicion of terrorism offences, after a van was driven into a crowd of worshippers last night near a mosque in north london. Witnesses say the driver shouted that he wanted to kill muslims. The attack happened in Finsbury Park shortly after midnight. 11 people were injured and one man died though hed collapsed before the attack and the cause of his death isnt clear. A van was driven onto the pavement, hitting people in its path. Bystanders he
Brexit strategy. And Military Support to the gambia. Will be defeated but defiant president stand down . Good evening, and welcome to bbc news. The foreign secretary, borisjohnson, has been criticised for his choice of language after appearing to compare the french government to the nazis. He said britain should not be threatened with Punishment Beatings in the manner of a World War Two movie for wanting to leave the eu. During the day, european leaders have been giving their reactions to theresa mays speech yesterday, outlining her brexit ambitions. The European Commission president , jean claude juncker, promised to work for good results in the forthcoming talks, as our political editor, laura kuennsberg, reports. Watch out, chaps, im worried about you falling over. Watch out, foreign secretary, more like. Its his job to win friends and influence around the world. On tour in india today. But as the delicate process of leaving the eu begins, rather indelicate words about our old frien