Macro advisory in moscow. He said the situation for the russian currency is unique. You should not be looking at it in the same way as if there was a slide in a normally functioning economy or a european economy. The rouble is entirely managed now by the central bank in conjunction with the Finance Ministry, and has been since we last saw the rouble collapse down to about 130 in march of last year. So the Central Banks priority last year was to keep the Rouble Exchange rate high at around 60, because it was tackling inflation, but this year, because of the sanctions impact and because that has led to a big hit on the value of russias oil exports in particular, they have devalued the rouble in order to compensate for that fall in dollar terms. In other words, weaker rouble translating dollars into a higher rouble amount to balance the budget. Thats been the priority this year. It doesnt reflect an imminent crisis. Sort of a broad collapse in the economy. Its the result of the central Ba
Almost entirely to the ground. Because of the wildfires, fires are continuing to burn. Helicopters continue to douse the flames. Many people, forced to flee at a moments notice, had to leave everything behind. Hawaiis Attorney General has announced an investigation into why the islands Warning Siren didnt sound at the height of the emergency. Questions are also being asked about power, and why the power should have been cut to the island. Meantime, the police chief for maui county said he expects the death toll to rise. Realise this. When we find these. Ourfamily and our friends, the remains we are finding is through a fire that melted metal. We have to do rapid dna to identify them. Every one of these 89 arejohn and jane does. And when you are asking us, and we know we have to get. And i love the way our house of representatives, how she said it, we are so eloquent, we have to go quick and we have to do it right. So when we pick up the remains and they fall apart, and so when you have
He will release his own 100 page report on what he calls the stolen georgia election, two pages bigger than the charge sheet against him and his 18 accomplices. And well tell you how the us Treasury Secretary came to accidentally eat Magic Mushrooms while on a visit to china. First a Welcome Development here in the uk. Inflation fell sharply to 6. 8 injuly, from 7. 9 injune. But it still means prices continue to rise. Prime minister rishi sunak says it shows his governments plan is working, but he cautioned against complacency. The drop was fuelled by lower energy costs. But Core Inflation which looks at price rises excluding food and energy remained unchanged. According to the office of national statistics, the rising costs of hotels, air travel, and rents are among the costs keeping inflation high. Economists are still expecting Interest Rates the tool used by the Bank Of England to control price rises to be raised further. Our economics editor faisal islam reports. The heat may be c
We start with the social media app tiktok because its ceo has vowed to keep on fighting after the us House Of Representatives passed a bill that could see the app banned in america. Shou zi chew released a video on tiktok threatening legal action and warning that if the bill becomes law it will mean the end of tiktok for its 170 million users in the us. Well hearfrom him injust a moment, but first, heres our us Business Correspondent erin delmore who has been following developments on capitol hill. The houseboat sets the stage for what could become an ultimatum to tiktok Chinese Owned Company bytedance. Selby avenue or it will be banned. There is a way to go between here and there. It needs to go through this and it faces an uncertain future. The Senate Majority leader has been noncommittal about whether he will bring it up for a vote. Some studies are only about to vote against it. If it does move through the senate, President Biden that he will sign it. Components of the bill argue t