plus rising prices falling ratings. can president biden win the argument on the us economy with just days to go until the midterm elections? and a pressing crisis. the cost of olive oil set to soar with harvests shrivelled by europe s summer heatwave. hello. we start here in the uk which is now facing the longest recession since records began, a century ago. that was the bleak warning from the bank of england on thursday, as it raised interest rates to 3% to try to dampen down soaring inflation. the bank says the uk economy is already in recession, and could keep declining until the middle of 202a. the pound slumped on the news to its lowest in more than two weeks. here s our economics editor faisal islam. the end of a decade and a half of ultralow interest rates was always going to be difficult, but dealing in mortgages has in recent weeks felt more like the stock market than the housing market. , , stock market than the housing market. , , . ., , market
that she would have survived. history is made in the gymnastics in liverpool, asjessica gadirova, wins britain s first ever women s individual all around medal, at a world championships. and join me live exactly 100 years after a team of british and egyptian archaeologists discovered at the entrance to the tomb of tutankhamun. plus, it is a frosty start to friday for a sum and for many it is going to be a dry and sunny day. details coming up. good morning. it s friday, the 11th of november. our main story. plans for a new nuclear power plant in sizewell in suffolk are under review, as the government looks to try and cut spending. a high speed rail line promised for the north of england could also be scaled back. a treasury spokesperson has insisted infrastructure projects remain a priority. here s our business editor, simonjack. major energy infrastructure and transport projects, including a new nuclear plant in suffolk, and a new rail line in the north of england, are under
story is the chancellor to launch capital gains arrayed, he has to plug the £50 billion hole in public finances, the savers, landlords and entrepreneurs face that hit. why is that? i entrepreneurs face that hit. why is that? ., 4 entrepreneurs face that hit. why is that? ., ~ ., , . that? i don t think he has too much choice, to that? i don t think he has too much choice. to be that? i don t think he has too much choice, to be honest. that? i don t think he has too much choice, to be honest. you ll- that? i don t think he has too much choice, to be honest. you ll hear. choice, to be honest. you ll hear the pro minister talk a lot about the pro minister talk a lot about the 2019 manifesto and trying to stick to that partially in an attempt to keep mps at bay so they don t do anything too radical, like with liz truss. we have a mandate, we will stick to the manifesto that one us that mandate in that manifesto, it says no rises on national insurance, vat or income ta
could the emergency services have done more to save lives after the manchester arena bombing? a report is due out shortly. the migrant crisis in kent the home secretary visits dover and manston to see for herself what s happening there. and why soaring energy bills mean many swimming pools and fitness centres could be forced to close this winter. i ve been going, what, ten years or more. peter has been coming 16. and coming up on the bbc news channel. it s crunch time in the t20 world cup group stages as pakistan dig deep to claim a vital victory over south africa to avoid elimination. good afternoon. within the last hour, interest rates have gone up by three quarters of a percentage point the biggest increase for more than 30 years. it pushes the base rate up to 3% as the bank of england tries to control inflation. it s the eighth rise in a row, meaning higher mortgage bills for many homeowners. meanwhile, the bank has also warned the uk could be on course for its longes