alexjones to pay $965 million to the families of the victims of the sandy hook massacre. and in china, where the country s ruling communist party gathers for its annual congress, we ll look at whose likely to become xijinping s second in command. live from our studio in singapore. this is bbc news. it s newsday. it s six in the morning in singapore and 11 in the evening in london, where the government is battling new economic uncertainty. prime minister liz truss has told mps her strategy of cutting tax will not change. but she s also said she won t cut spending either, suggesting the government will have to borrow more. that s raised concern even among her own mps. some want her to rethink tax cuts to reassure the markets. our political editor, chris mason, reports. reporter: have you wrecked the economy, prime minister? - there are plenty of questions for liz truss at the moment, but that one gets to the crux of things. spiralling prices, interest rates climbing, the market
heart s open, boy, it s not hard to find it. you can find out more about his philanthropic efforts along with more this saturday night when cnn hero salutes premieres at 10:00 p.m. eastern. news continues. i want to hand it over to sarah schneider and cnn tonight. (vo) with every generation, the subaru forester has been a leader in crash safety, working to undo the impact a crash can have on your life. which has led the forester to even be able to detect danger and stop itself. the subaru forester has earned the i-i-h-s top safety pick plus eight times. more than honda c-r-v or toyota rav-four. love. it s what makes subaru, subaru. hybrid work is here. it s there. it s everywhere. but for someone to be able to work from here, there has to be someone here making sure everything is safe. secure. consistent. so log in from here. or here. assured that someone is here ready to fix anything. anytime. anywhere. even here. that s because nobody. and i mean nobody. makes hybrid wo
also, this is a critical week for the economy. we are expecting a deluge of economic data to drop almost every day. it will hopefully provide insight to the millions of americans getting pummelled by 40-year high inflation. some analysts believe the u.s. is hurdling into a recession but the white house is hammering the message that the economy is resilient. we ll get a better sense of how the public is feeling tomorrow when consumer confidence numbers come out. then it s the federal reserve s turn. it meets wednesday and will likely hike interest rates again to try to tame surging prices on everything from eggs to beef, to everything, rent as well. thursday gdp second quarter results are due. cnn s matt egan and rahel solomon are here with us. all of this economic data is going to be coming this week. what is most important? this is shaping up to be a pivotal week for the economy. politico dubbed it a category 5 storm of economic news coming and it could help the big
this is the business stories from around the world, and i will try and pronounce that correctly in a let s start with a stark warning from the governor of the bank of england. andrew bailey has warned the uk and many other countries are facing apocalyptic food prices, due to supply problems caused by the war in ukraine. bailey warned inflation could hit 10% by the autumn, well above the central bank s 2% target. uk inflation is currently at 7%, which is its highest level in 30 years. another sign of the rising cost of living was shown at petrol pumps yesterday, with one litre of diesel costing £1.80, which is a record high. joining me now is swetha ramachandran, an investment manager at gam investments. thank you for being with us, we know that rising prices are a huge problem, but it really did underlinejust how bad huge problem, but it really did underline just how bad this could get without warning from the bank of england just yesterday. yes, indeed, and there are lots o