warning over the country s debt ceiling. this is the amount of money the us government is allowed to borrow to pay for pretty much everything they do. without an agreement to increase what the federal government can borrow, it could run out of money by earlyjune. at that point the federal government might not be able to make wage, welfare and other payments. our north america business correspondent michelle fleury is live in new york for us. we have been here before but once again, a stark warning that if nothing is done, it causes huge repercussions around the world. this is because as repercussions around the world. ti 3 is because as you say it is going to affect the jobs of government employees in the united states and have a knock on effect on the border economy, but then there is beyond the shores of the united states, the kind of ricochets it will have around the global financial system and that is why you have had this increasing drumbeat as we get closer to the kin
we begin in the us, where the treasury secretary janet yellen has sounded a stark warning over the country s debt ceiling. this is the amount of money the us government is allowed to borrow to pay for pretty much everything they do. speaking to abc, she says that if lawmakers fail to raise that ceiling the us could be left unable to pay its bills by the beginning ofjune. it is congress s job to do this. if they fail to do it, we will have an economic and financial catastrophe that will be of our own making and there is no action that president biden and the us treasury can take to prevent that catastrophe. russ mould is investment research director at aj bell. we have been here before. all of the same warnings that the us could tape off a cliff if it doesn t raise the debt ceiling and yet more warnings. yes, we have and i think the us debt ceiling has been raised 75 or 80 times in its history and we have had eight government shutdowns while a new debt ceiling has been wor
business stories. i m sally bundock. we start here in the uk, and what else but the coronation of his majesty king charles? as we ve been hearing, it s been an historic weekend, from the pomp and pageantry and a bit of rain on saturday to a day of street parties and a night of fantastic music to round off the celebrations. all driving some serious weekend spending, predicted by retailers to be worth something in the region of almost £1.8 billion. but as many continue to struggle with the current high cost of living, how long can the spending optimism last? katrina bishop is from consumer research company niq. let s talk this through. katrina, a warm welcome to you. morning. katrina, a warm welcome to you. morninu. ., . , , . morning. for many sectors in the uk that morning. for many sectors in the uk that have morning. for many sectors in the uk that have been - the uk that have been struggling, like hospitality, this was a huge boost, wasn t it? it this was a huge boost,
alexandria: this is last day of combat readiness controls, according to beijing, an aircraft carrier has been used to send jets. all in response to taiwan president visiting with speaker kevin mccarthy in the u.s. last week. u.s. lawmakers hardening the island in an event to by china. this is very serious. if you look at the authority of the chinese air force together with the ships becoming close to taiwan and any accident might spark uncontrollable war between taiwan and china. and if other countries try to intervene, it might be the start of a war of grand scale. alexandria: china state television sharing what a missile attack could look like. congressman michael mccaul weighs in. this is intimidation tactic they are known for. the size of this one is quite large, one of the largest ones we ve seen and it is not going to intimidate us. if we have deterrence for peace, we need to get weapons into taiwan. alexandria: china claiming the u.s. illegally intruded
americans can rest assured that our banking system is safe. did the government s actions actually make the system healthier? i ll ask democratic senator elizabeth warren of massachusetts.ollides plus, close encounters a russian fighter jet collides with a u.s. drone over the black sea. we know the intercept was intentional. we know the aggressive behavior was intentional. vladimir putin gets ready to welcome chinese president xi jinping at what could be a pivotal moment for the war while the top 2024 candidates no longer see supporting ukraine as a vital security interest. the greatest threat to western civilization today is not russia it s probably more than anything else ourselves. is the party ronald reagan now embracing isolationism i ll ask republican mike rounds of south dakota and a call for protest. former president donald trump claims he will be arrested and calls on his supporters to protest as he faces the possibility of an indictment in new york city