Since april and the first time in 47 sessions where it broke the streak of days where the s p hadnt dropped by 1 first time we have seen a loss like this in a while nasdaq was down 2. 2 that was the worst day since february if you look at treasury yeields, we saw action. The 10year treasury pushing higher the 10year is 4. 41 2year at 4. 19 . Andrew, we talked about the market blowing off the downgrade from fitch in the morning. Yields under pressure which is the opposite through the course of the day, yields did pick up a bit i know you have comments from Warren Buffett in a moment i dont know if this is a number of earnings which were better than expected, but some were weaker you have the report. That brought the expectation to bring more pressure on the fed to raise rates that, to me, is a much better rationale than the fitch report. As you know, my view is not that it is silly. It is important to say aloud the world is a relative place. If you downgrade the United States, you have
To thunderstorms as weather warnings are extended by the met office across a large part of southern england that came after the hottest day of the year so far. Far. After some big thunderstorms last night. Still a few showers across the south today, but for many there will be some pleasant warm spring sunshine, especially so in western scotland. Could last into tomorrow as well. Join me later for a full forecast. Me later for a full forecast. And the sport this morning. Jadon sancho may have been a little bit rubbish at Manchester United. Sorry jadon, but hes flying back again at dortmund as they beat Paris Saint Germain in they beat Paris Saint Germain in the first leg of the Champions League semi final. Rocket ronny is knocked out of the World Snooker championships and the olympic flame. Hes on board a ship somewhere in the mediterranean bound for france. Mediterranean bound for france. Good morning to you. Im Stephen Dixon and im Ellie Costello, and this is breakfast on gb news. On
The green light to develop one of the largest untapped oil and gas fields in british waters. Rosebank lies in the north sea, about 80 miles west of shetland. Experts say it contains about 350 Million Barrels of oil. Production could start in 2026, with extraction continuing until at least 2030. Its thought that about 69,000 barrels of oil could be produced every day. That would equate to about 8 of the uks total output. There would also be natural gas, with about 44 million cubic feet produced per day during the projects lifetime. The Energy Secretary Clare Coutinho says. The news has not gone down well with climate campaigners. Heres tessa khan, executive director of uplift, a group that has been working to stop Rosebank Being opened up for oil and gas production. I think we need to be clear that this is a huge mistake on economic grounds, on Energy Security grounds and on Climate Grounds and the uk public do not stand to benefit from this field. With me is our Business Editor simonja
Is expected to produce the equivalent of 300 Million Barrels of oil during the expected 25 year lifetime of the project. But the decision is controversial because of its impact on Climate Change last month 50 mps and peers from all major parties raised concerns the oil field could produce 200 Million Tonnes of carbon dioxide. Alexandra mackenzie reports. North sea oil is again at the centre of economic, political and climate debate. The long discussed rosebank Oil And Gas Field is run by the norwegian state energy firm, equinor. It says this will bring massive investment and jobs to the uk. There is a continued need for oil and gas. Through the entire transition and even after net zero, we will need oil and gas in our daily lives and to run society as we know it. Rosebank lies 80 miles west of shetland. Discovered in 2004, the field is in deep water of more than 1000 metres. Start up is expected late 2026 or early 2027. But there is much anger and frustration about this decision. Prote