As much as 5 Billion each day according tojpmorgan analysts. Us retailers, automakers and other businesses now face Ballooning Freight rates ahead of the crucial festive shopping season. Large retailers have pulled forward imports of much of their Holiday Merchandise and made reservations with west Coast Ocean and Rail Carriers in hopes of avoiding any disruption. Lets speak to peter sand, chief analyst at xeneta, an Ocean Freight analytics firm. Hello to you. I know you have already calculated what this could mean if the Strike Action goes ahead, so do tell us more. A disruption like this always comes at a bad time for European Exporters into North America as well as North American exporters out of thE East Coast And Gulf coast. It will be impacted at first but this seems to be a first for almost 50 years, has the potential not only to lift Freight Rates higher due to the disruption from the strike, but certainly also to have wider implications, one or two months later down the road w
Increase wont come. Lets not forget that yesterday we heard that average uk wages were rising at their fastest pace in 20 years. Joining me now is Neil Shearing group Chief Economist at capital economics. Thanks very much for being with us today. Clearly it is pretty good news, but is it happening fast enough, oras news, but is it happening fast enough, or as fast as we had hoped . The fall in the Headline Rate of inflation, as you say, thats going to be welcomed by the Bank Of England. It takes a bit of pressure off them. But when you start to dig into the details of this report, i think perhaps there is still some uncomfortable reading there for the policymakers of the bank. As you mentioned, a lot of the fall in the Headline Rate, that is driven by what has happened to food and Energy Prices and that is out of the banks control. Interest rates dont tend to affect the price of our energy or food. Those are set in global markets. What they do affect his conditions in the real economy,
There will be a Repeat Election in a few months. Nothing is clear yet. We know that markets dont like uncertainty. We will see how it changes in the next few weeks. In principle, there is a deal between the socialists and the catalan party. If that extends to government, we do not know yet. We will find out pretty soon. This has all weighed quite heavily on spain in general, hasnt it . Talk us through some of the issues the country has been facing. Well, yes, at an economy level, spain is really struggling with unemployment, it is a structural problem, for the past few decades. It is the highest in all of the european union, between 11 and 12 . Especially Youth Unemployment is very high, around 20 . Is very high, around 28 . Also the highest in the eu. So the main struggle for any. The main challenge for any government is reducing unemployment. There has been progress in the past few years under the socialist led government. It has been reduced. But it still has a long way to go. Now,
Biggest challenges facing chinas economy. A huge crisis when it comes to confidence as a result of the property crisis. Trying to get people out spending again. They said for example that china would surge ahead towards a great future and the question is that 5 target, there was not a lot of specific about how theyre going to achieve this. He also lauded the past achievements, talking about science, technology and Artificial Intelligence as well as the airline. ~. ,. , intelligence as well as the airline. , airline. What was beyond the economy . Airline. What was beyond the economy . The airline. What was beyond the economy . The birthrate airline. What was beyond the economy . The birthrate was| airline. What was beyond the i economy . The birthrate was an interesting economy . The birthrate was an interesting element. Economy . The birthrate was an interesting element. China economy . The birthrate was an interesting element. China is i interesting element. China is facing a demograp
Wyrie davies has more. One positive note from cairo is that they have gone into a second day with delegation from hamas, egypt, qatar, and The Americans talking about the stability of a six or seven week ceasefire in gaza. But israel decided not to send a delegation. Israels says the preconditions it insisted upon that hamas should provide a list of the hostages who remain alive, and those who might be exchanged in a prisoner swap, or hostage swap, with the palestinians, that wasnt forthcoming. So israel has decided not to send a delegation to cairo. That has been criticised in many parts of the israeli media, and the israeli public, as an unsustainable position. That isnt to say that had israel gone to cairo, there would be an automatic ceasefire there would be others stumbling blocks. Hamas wants the withdrawal of israeli troops from Populated Areas of gaza and the citizens of gaza to be allowed to return to their home areas in northern gaza. And those are significant issues that isr