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,
the country s property sector. earlier i spoke to charu chanana from investment bank saxo and she told me investors want to see beijing impletment long term structural reforms. it s not something that can offer that long term comfort to chinese investors, or those who are actually looking for the stocks to get dirt cheap and you know make an entry into that market. you know make an entry into that market. , . ., , , that market. these are masters that market. these are masters that we have that market. these are masters that we have obviously - that market. these are masters that we have obviously seen - that market. these are masters that we have obviously seen in l that we have obviously seen in the past as well, in the past few weeks, and all they really do is to try and put a float but this is not something that can do to get investors excited about the chinese market, i think investors are really waiting for some kind of a structural reform there, and just the whole m
by 11 of the 31 members of the alliance. uk prime minister rishi sunak is expected to urge nato allies to learn the lessons from russia s invasion of ukraine and invest more in defence. joining me now is hugo brennan, research director at the risk intelligence company verisk maplecroft. good morning to you, hugo. so, just talk us through the level of defence spending going on at the moment. because this has been a contentious issue for years within nato, hasn t it? it very much has been, yeah. i mean, the first thing to say is the question of who foots the bill to pay for the alliance? as you say, that s long been a question mark. you ll remember back to 2019, when donald trump made it very much top of the agenda. and again, it s going to be in this latest nato summit. as you said, we re expecting some sort of agreement that will make it a requirement for nato member states to spend at least 2% of their gdp on defence spending, which would build on that 2014 agreement you r
beaten a record set by open air chat app, signing up more than 100 million users in under five days. now, it was just last wednesday that threads went live on apple and android app stores in 100 countries. meta boss mark zuckerberg said he couldn t believe the milestone had been reached so fast, but it feels like lots of people are already on it. well, that s partly because it s connected to instagram. meta, remember isn t creating an app from scratch. it s benefiting from its two billion instagram followers, and that s giving it a massive shot in the arm. analysts are calling this the first serious threat to the elon musk owned twitter. according to similarweb, twitter s web traffic was down 11% from the year prior. that s in the days immediately after threads launch. it s worth remembering threads is not the first attempt to challenge the micro blogging app, but others such as mastodon, blue sky and truth social, well, they all remain still pretty small right now. as histor