are on, so let s get started. time now to focus on the top business stories. i m sally bundock and we begin in turkey where, as you ve been hearing, most ballots are counted in this crucial general election and there does not appear to be a clear winner. official figures indicate that president recep tayyip erdogan has fallen short of of the crucial 50% of the vote. his secular opposition rival, kemal kilicdaroglu, is on around 45%, with a run off contest in two weeks time looking likely. turkey has been grappling with a cost of living crisis with inflation running at 44%, a key factor in turkish sentiment right now. let s talk to our reporter in ankara victoria craig who has spent much of the night at the headquarters of mr kilicdaroglu. good to see you. first of all, talk us through the feeling, the sentiment among those who are supporting the opposition. it was very, very long night for anyone who was keeping track of what was happening in turkey. i didn t get home
congress. and i ll tell you why. who e-maited congress. and i ll tell you why. who e mailed me last night at nine o clock? e mailed me last night at nine o clock? the health secretary wants to see o clock? the health secretary wants to see me applause. colleagues, this is not about negotiations, but it is important that i negotiations, but it is important that i go negotiations, but it is important that i go and i tell them again why many that i go and i tell them again why many of that i go and i tell them again why many of you voted to reject the pay offer~ many of you voted to reject the pay offer~ ih many of you voted to reject the pay offer. in scotland our overwhelming strike offer. in scotland our overwhelming strike mandate forced scottish government into several rounds of negotiations without a single day of action applause. absolutely. i know some of you are frustrated absolutely. i know some of you are frustrated at not being able to join coll
washington, where the us debt ceiling fight is heating up, with both sides showing no room for compromise yet on an issue that impacts the global economy. us treasury secretary janet yellen has issued a letter to congressional leaders, warning the us could run out of cash byjune 1st. that s prompted president biden to call a meeting with the top leaders in congress next week seen here. in the letter, yellen warned: speaker mccarthy responded to yellen in a statement, saying: the republican controlled house passed a debt ceiling bill last week that includes steep spending cuts. senate democratic majority leader chuck schumer announced a process to pass a clean bill with no cuts just hours ago. meanwhile, a little relief in the banking sector. wall street giantjp morgan chase took over the troubled first republic bank in a 10 point 6 billion dollar deal brokered by regulators. hey seized first republic early on monday, after efforts to rescue the bank fell through over the we
room for compromise yet on an issue that impacts the global economy. us treasury secretary janet yellen says the us could run out of cash byjune 1st, prompting president biden to call a meeting with the top leaders in congress next week. in a letter to the leaders today, yellen warned: speaker mccarthy responded to yellen in a statement, saying: the republican controlled house passed a debt ceiling bill last week that includes steep spending cuts. senate democratic majority leader chuck schumer announced a process to pass a clean bill with no cuts just hours ago. meanwhile, a little relief in the banking sector. wall street giantjp morgan chase took over the troubled first republic bank in a $10.6 billion deal brokered by regulators. they seized first republic early on monday, after efforts to rescue the bank fell through over the weekend. the failure of the bank is the second largest in us history, and the third in the country since march. samira hussain has more. as of mond