guest, ukrainian president is a political organisation but this years summit was dominated by economics that it was at the very heart of any news that the leaders discussed this weekend, ukraine and china. i will start with a crane. before the summit even kicked off on friday the us introduced a raft of measures targeting russia, 300 sanctions aimed at restricting moscow s ability to source battlefield materials. the uk then followed suit, having introduced an import ban on russian diamonds, copper, aluminium, nickeland russian diamonds, copper, aluminium, nickel and then the g7 leadersjointly aluminium, nickel and then the g7 leaders jointly agreed on a statement that said they would continue to impose sanctions, tighten them, and specify the need to crack down on sanctions and evasions, the use of third party countries as a loophole for russia to get around these restrictions. they also acknowledge the fact, separately to the joint statement that there would be a need to ut
us treasury secretary janet has again sent a letter to congress warning the treasury would be unable to satisfy its obligations as early as 1june. presidentjoe biden will meet top lawmakers including republican house of representatives speaker kevin mccarthy at 3p able a good time on tuesday. of course that meeting was postponed from last friday. samira hussain has more from new york. in less than two weeks the united states could fail to meet its debt obligations. if lawmakers in washington cannot come to some sort of agreement. the republicans have continued to demand cuts to social security before they will agree to raise the borrowing limit. us presidentjoe biden has repeatedly said he would not set conditions that must raise the debt limit his failure to do so would result in an economic catastrophe. some of the possible outcomes of the job losses, those that depend on social security benefits won t get paid, and of course the most dire of outcomes would be the loss of c
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 longest recession since reliable records began, over a century ago. our economics correspondent, andy verity, reports. it is the biggest interest rate rise in a third of a century. the cost of living has been rising at its fastest rate for a0 years for global reasons but the bank of england is trying to prevent runaway inflation from becoming embedded in the domestic economy. these are big changes, they have a real impact on people s lives, so why are we doing it? and why are we doing it now when so many people are already struggling with higher energy and food prices and other bills? quite simply we are increasing the bank rate bec
with the murder of nine year old olivia pratt korbel. she was shot in her home in liverpool in august. king charles and the queen consort camilla visited dunfermline on their first official engagment since the period of royal mourning came to an end. and coming up we meet mr doodle the man from kent who makes his living from doodling and has covered his whole house in drawings. hello, if you havejustjoined us welcome to bbc news. just to remind you we will have live coverage of the chancellor kwasi kwarteng s speech to the conservative party conference later. he has been forced into a dramatic u turn to scrap the 45p top rate of income tax. the decision to ditch the policy a decision which mr kwarteng confirmed this morning came less than 2a hours after the prime minister liz truss had publicly defended it. in a statement, mr kwarteng said the 45p tax plan had become a huge distraction and that the government had listened to people s concerns. yesterday on the bbc,