Change. Clearly it is a popular policy by the public and heading up to the next election it would be a strange decision for the government to row back on anything with public support. Can the government have it both ways, say yes to granting licences for oil and gasp projects but at the same time it commitments to net zero . New licences for the north sea is not a change in Government Policy, we were expecting to see more. The oil and industrys estimates show production will continue to decline in the north sea no matter what the Government Policy is it simply because there is not as much gas and oil as 50 years ago when we started extracting. What is left in the north sea is mostly oil. This is mostly exported, so there is little benefit to our bills from more extraction and in a cost of living crisis bills are a strong priority for the public. It is a strange decision to approve more when it wont help with our bills because they cant move the dial on internationally set prices and it
crash hitting demand for goods and pushing down prices. joining me now is mark williams chief asia economist at capital economics. these figures will not make for welcome reading once again. just looking at the stats there, the biggest contraction since 2009. why? critics succes what is going on here is yellow let s start with. the weeks ahead is yellow let s start with. the weeks ahead of is yellow let s start with. tue: weeks ahead of chinese is yellow let s start with. tte: weeks ahead of chinese new is yellow let s start with. he weeks ahead of chinese new year, is yellow let s start with. me: weeks ahead of chinese new year, we often see quite big changes in prices in china. that s probably tucked down the date forjanuary a little bit but the big picture is that china has been in deflation for a while. that is pointing to widespread weakness in the economy. there is a lack of confidence there and it is notjust consumer prices that have been falling, we have also b
prices will stay high for longer. and we take a look at the biggest deal in golf, ahead of a us senate hearing into the pga liv merger. welcome to world business report. let s start here in the uk where the government is facing another big setback in its battle against inflation. new data show that average wages have risen at a record annual pace of 7.3% in the march to may period, compared with the same period last year. british headline inflation is running at 8.7%, staying higher for longer than many had forecast. and there are concerns that after 13 consecutive interest rate rises, that the bank of england could need to raise it even further to bring price rises under control. let s hear now from janet mui, head of market analysis at rbc brewin dolphin. thank you for being with us. inflation has not been coming down at the expected pace. what does this data signal about how things could pan out? good afternoon. thank you for having me. which group is still pretty strong,
five people on board that vessel. one of them is said to be british billionaire explorer amesh harding. secretary blinken said u.s. and china have stabilized deteriorating relations. the meeting with xi jinping did not result in a plan to improve the communications between the country s myrtle. we will ask former president trump about that in a minute. more than 100,000 customers in the southern u.s. were without power today following damaging scattered storms leaving residents searching for relief as sweltering temperatures continued to scorch that region. power outages for some customers in texas could stretch late into this week as crews scram to be make repairs. u.s. markets were closed today for the juneteenth holiday. mr. president thanks for the time. thank you. bret: i have asked the same question to all candidates i have interviewed this year and that is this. what do you think is the most important issue facing the country right now? so many so important but
submersible which has less than 20 hours supply of oxygen left. also on the programme tonight. more worrying economic data for the uk. inflation the rate at which prices are rising didn t fall last month as expected. that s left many expecting the bank of england to raise interest rates yet again tomorrow heaping more pressure on many people with mortgages and loans. president zelensky tells the bbc that the battle to defeat russia is not a hollywood film and while things are moving slowly, ukraine s counteroffensive will be successful. and the bbc uncovers evidence that hundreds of sick and mentally ill people from the windrush generation were wrongly deported from the uk and returned to the caribbean. less than 20 hours of oxygen remain for the five people who are trapped inside a submersible after they went missing on sunday morning in a remote part of the north atlantic. search and rescue teams have been monitoring underwater noises that were picked up by a can