Lays out her plans for the uk economy. We take a look at how they stack up. Take over or turn around . Rumours mount over the future of struggling Chip Maker Intel. And still there for us. Friends after all these years. How the Hit Show is doing after 30 years since monica, ross, rachel, chandler, Joey And Phoebe met in that new York Coffee bar and made a fortune. Welcome to business today. Im mark lobel. We start here in the uk where the chancellor, Rachel Reeves, has been laying out her plans for the economy ahead of the new governments first budget next month. The first ever female Uk Finance chief struck a positive tone. She is pledging a new era of stability after years of economic uncertainty. Saying his is a pro business, pro Worker Government that will deliver a New Industrial Strategy to unlock Growth And Draw in investment. Im joined by chief Uk Economist at pantheon macroeconomics, rob wood. Thanks forjoining us. What is your big takeaway from this speech ahead of next Month
Always a pleasure to see you. This is a company that almost collapsed two years ago. Why is it filing for bankruptcy in the United States . I think it is a legal move. The Debt Restructuring Talks were already going on with hong kong, cayman islands, word has holding companies. The advantage for evergrande to file for bankruptcy in america is a gives it some protection against us creditors for the duration of that Court Process. I5 creditors for the duration of that Court Process Court Process. Is there a lot of exoosure Court Process. Is there a lot of exoosure for Court Process. Is there a lot of exposure for foreign Court Process. Is there a lot of. Exposure for Foreign Companies Court Process. Is there a lot of exposure for Foreign Companies here . I think there is a certain amount of exposure. There are enormous amounts of debts, large amounts of the offshore bonds have lost their value and i believe many of the less risk taking investors already sold their offshore bonds a couple
Russian media showed damage to an Exhibition Centre in that area, west of the city centre. But it wasnt completely clear whether that damage was caused by debris from the drone falling, or whether actually, the drone hit its target. Drone attacks in areas around moscow are relatively common. In fact, we hear almost every day about drones being shot down or drones being discovered on the ground. But it is relatively rare for a drone to get this far into the city centre and this close to the kremlin itself, about three miles away was where this incident took place. You will remember at the beginning of may, the kremlin itself was attacked by two drones. Will, what can you tell us about humanitarian aid, or the corridor that was set up by ukraine after the deal ended and any further discussions didnt go anywhere . I understand that there is a ship that has got through, any more detail on that . Thats right, there are reports that a ship has made its way through that corridor, which was an
China is experiencing a rare episode of sliding prices. Japans economy experienced this back in the 1990s and early 2000s. Now, this comes hot the heels of disappointing china trade data on tuesday, which showed that exports sank at their fastest rate since the pandemic, dropping by more 14 in the year tojuly, with imports also falling by more than 12 in the same period. Joining me now is duncan wrigley, Chief China Economist at pantheon macroeconomics. Thank you very much for being with us today. The Rest Of The World looking on in amazement. Considering the inflationary pressures the rest of us are dealing with. What do you read Between The Lines in this latest data . Between the lines in this latest data . Latest data . Ok, i mean, there are some latest data . Ok, i mean, there are some shortterm latest data . Ok, i mean, there are some shortterm factors i are some short term factors that push down the data for this month, there has been a surge of seasonal vegetables, the big pictu
this. is this what you were expecting? this. is this what you were meeting? this. is this what you were exectinu ? ~ , expecting? well, it did seem like the company expecting? well, it did seem like the company was - expecting? well, it did seem| like the company was coming expecting? well, it did seem i like the company was coming to the end of its road. it has been 1.5 years. the chairman was placed under investigation by mainland law enforcement authorities so it did look like the company was really struggling to come up with any kind of thing acceptable to the creditors. ., ~ , kind of thing acceptable to the creditors. . ~ , ., ., creditors. talk us through what ha ens creditors. talk us through what happens nova creditors. talk us through what happens now. for creditors. talk us through what happens now. for those - creditors. talk us through what happens now. for those that i creditors. talk us through what. happens now. for those that are owed a lot of money, wh