Growing at a slower rate for the past two months, but inflation remains at nearly 8 , four times higher than the official target. Hannah miller has this report. For father of two peter, sorting out the Family Finances is proving hard. He and his wife bought their first home using the help to buy scheme. But when their mortgage comes up for renewal early next year, theyll have to find an extra £750 a month in repayments. Somehow were supposed to spend less and find £750 extra a month to pay for that. So, you know, for many families, its a terrifying situation. If you have young families like ourselves who have been swayed into the Housing Market by government, whose advertised help to buy as an affordable scheme, right, when things become unaffordable, you cant simply turn around and say, thats your problem. A rise of 0. 25 Percentage Points would take the Bank Of Englands base rate to 5. 25 , the highest since april 2008. For someone with an average Tracker Mortgage of £200,000, tha
convened her final cabinet meeting afterjust seven weeks in office, making her the shortest serving prime minister in british history. i cannot deliver the mandate on which i was elected by the conservative party. i have therefore spoken to his majesty the king to notify him that i am resigning as leader of the conservative party. this is the easy bit, they will appreciate the transition from one prime minister to the other. after that, in tough road lies ahead with rising inflation, rising bills and rising inflation, rising bills and rising interest rates. we will bring you more throughout another momentous day in british politics. do stay with us on bbc news. it has been a period of immense instability in british politics, the transitions between two prime ministers in a matter of months. a busy summer, a long contest to decide who would become the leader of the conservative party, the ruling party in the uk at the moment. they have been in office first with coalition partn
the country after he certified the 2020 election results for president biden. they held dueling rallies last night. that s why we re in the fight for the soul of our state. we re doing this for a reason. we got more wood to chop. let s bring this home. i m asking for your vote and your help and your support. this has been a race of people versus politicians. you see pence coming in and all the other governors, the rhino establishment politicians, career politicians coming to georgia to make their case. we ve taken our message to the people. i m running against an incumbent governor struggling to get to 50%. harris: the winner takes on unopposed democrat stacey abrams and it could mean a rematch with governor kemp who won in 2018. abrams is still hearing it from angry voters after she called georgia the worst state to live in. i wouldn t say it s the worst place to live in. i lived in chicago and i think it s a lot more expensive and a lot more dangerous to live in.
reported, get this, a stunning 52% drop in first quarter profits, that was just a day after shares in the nation s largest retailer walmart had their worst day in 35 years. what is going on here? they have their fingers on the pulse of the american consumer and they say inflation was the problem, their customers are sticking to the basics when they come in, leaving with fewer items in their shopping carts. those purchasing decisions being driven by sticker shock of course. basics are getting much more expensive, gas up 44% the last year, car, food and shelter also way up. americans are also making more money. wages rising in this tight labor market, but that is also feeding into worries about inflation because of wages. and because of rising prices, people don t feel secure so they are cutting back and that is shaking market confidence. right now stock index futures are leaning lower. asia closed mixed overnight. looks like except for china all down here. let s bring in krist
dow suffers its worst day since 20206789 more on what drove the massive sell-off and how stocks are looking right now. good morning. and welcome to way too early. on this thursday, may 19th. i m jonathan lemire. in a case of history repeating itself, a race in pennsylvania is once again coming down to mail-in ballots. the republican senate primary race between trump-endorsed dr. oz, and hedge fund ceo dave mccormick is still too close to call this morning. the candidates only separated by a little over a thousand votes. while the mccormick camp is telling supporters to wait until all the votes are counted, former president trump is taking a page oust his 2020 play book. trump told supporters that dr. oz should forget waiting for the final tally and just say that he won. quote, dr. oz should declare victory. it makes it much harder for them to cheat with the ballots that they just happened to find. of course, during the 2020 election, trump tried this same tactic. he insis