In cutting the cost of borrowing for the first time in overfour years. The Federal Reserve have dropped the main Interest Rate in the worlds biggest economy by half a percentage point, bringing it down to between 4. 75 and 5 . A drop larger than many expected, with some wondering now if this reflects the scale of the problems facing the american economy or the success in getting the pace of price rises, inflation, close to the banks targets. The governor of the fed, Jerome Powell says the us economy is in good shape and they intend to keep it that way. Our North America Business correspondent Ritika Gupta has the details. The Federal Reserve has delivered a super sized Interest Rate cut aimed at bolstering the us Labour Market. The 0. 5 percentage cut, the first in over four years, brings its key Interest Rate, the federal funds rate, down to between 4. 75 and 5 . It comes amid Signs Inflation in america is continuing to fall, while the Job Market remains strong, even as unemployment h
Hello, youre watching the context on bbc news. Its been revealed that Keir Starmer s top adviser, Sue Gray, now earns more than the Prime Minister. Weve been told that shes now on a salary of 170,000. More than 100 charities and Aid Agencies have urged sir Keir Starmer to protect foreign Aid Spending amid fears the budget could fall to its lowest level since 2007. The unease comes ahead of the Budget Set to be unveiled by the chancellor in october and with increasing aid being spent here in the uk, To Support Refugees and Asylum Seekers. The previous government had counteracted this adding 2. 5 billion to the foreign Aid Budget, as a Top Up to compensate for the money being spent in britain. But where does the uk stand internationally . The un target for foreign Aid Spending is 0. 7 of a countrys gross national income. That figure is widely accepted among the international community and the uk made a legal commitment to it in 2015. But in reality according to the oecd, just 5 countries
The trade implications. Scotlands only Oil Refinery is to close with a cost of 400 jobs the Unite Union calls it an act of industrial vandalism. And Credit Crunch why are so many Women Led bUsinesses cancelling Expansion Plans because they are unable to access finance . Well speak to one big bank trying to address that. Live from london, this is bUsiness today. Im mark lobel. The Aircraft Maker Boeing is awaiting news from its workforce on whether its accepted a four Year Pay Deal which could lead to a walkout of up to 33,000 workers. The deal 25 over four years has been backed by the workers iam union, but many employees are not happy with the terms. A result s expected very shortly and could lead to Strike Action in the coming hours. That would affect production of the companys 737 and 737 max aircraft. Heres our North America BUsiness correspondent ritika gupta. Breaking news on the subject. Boeing workers have voted to strike after rejecting a Pay Offer backed by their own union. T
But a report from the Scottish Fiscal Commission says while Uk Government policies have contributed to the pressure, much of it comes from the Scottish Governments own decisions. Heres our scotland editorjames cook. This is the reality of life less than four miles from the scottish parliament. A Community Centre handing out free bread to help the residents of muirhouse make ends meet. And yet, now, here and across scotland, the tough times could be about to get worse. Prolonged westminster austerity, the economic damage of brexit, a global pandemic, the war in ukraine, and The Cost Of Living crisis, have all placed enormous and growing pressure on the public finances. I must take further and more urgent action now to ensure that we can balance the scottish budget in 2024 25. And i call. There is also 800 million of additional spending for new pay offers, and all that means 500 million in direct service cuts, plus a raid on the Proceeds Of Offshore Wind and publicly owned scottish water
As a complex rescue operation. Here you can see the 52 year old talking to Israeli Soldiers shortly after he was rescued. He was abducted ten months ago close to the israel gaza border. Qaid farhan Al Kadi The Eighth hostage rescued by Israeli Forces since the start of the war in gaza is in a stable condition in hospital, where he is undergoing examinations. And this is his Family Running through the corridors and out to the helicopter after he was admitted. Israeli Prime Minister Benjamin Netanyahu said he was working to secure the release of all the remaining hostages. But a group campaigning for those still held said that though this rescue had been miraculous, Military Operations alone could not free the remaining captives and that a Ceasefire Deal was needed. Lets take a listen to what Benjamin Netanyahu has had to say about this latest development. Translation welcome back farhan alkadi. I congratulate the idf and isa for another successful racket skew operation. Were working tir