In the latest fighting, israel has bombed a building in central beirut. Both Israel And Hezbollah have reported a second day of intense fighting on the ground in southern lebanon. Oil prices jumped on tuesday over supply fears, with markets regAining ground as investors seemingly come to terms with the escalation in tensions. Lets have a quick look at the price of oil, once agAin today, more than a i once agAin today, more than a i increase, the price of oil just below 75 per barrel. It would look at the Share Markets in asia, its an interesting picture were seeing. Japan is seeing a bigjump, Over2 because of the yen has weakened significantly on anticipation of what might happen in the japanese Economy But Hong kong is down over 3 . Big profit taking going on in hong kong, over the last few days there we have seen rapid increases on these markets in response to chinese stimulus so chinese stocks have had a real rise in recent days. Today, profit taking going on there but elsewhere, as
Oil Prices Surge and stocks tumble as barrage of missiles in the Middle East prompts supply fears in a region that accounts for a third of global oil production. Us Trade Paralysis dockworkers threaten to continue striking for as long as necessary with ports along the East And Gulf coasts remaining shut for a second day. Also on the programme, could technology bring extinct species back to life . We speak to the boss of a De Extinction Company hoping to resurrect the Woolly Mammoth. Live from london, this is business today. Lets start with the Middle East, where, as weve been reporting, israel has warned of grave consequences after iran launched a barrage of missiles at targets across the country on tuesday. Oil prices have been surging as traders fear a full scale regional war could disrupt Energy Supplies to the global market. Brent crude rose as much as 5 to 75. 40 a barrel in intraday trading. Lets Take A Look at the latest Oil Price now. Up up1. 36 , up 1. 36 , 74 up1. 36 , 74 and
Favour over the past month. Weve seen sterling rise that will help temper the Price Pressures from imports. Weve also seen other pressures in the markets where theyve been raising some questions about the Bank Of Englands credibility, as in Mortgage Rates going up without decisions being made that has all calmed down, too. And the public s expectations of where inflation is going, which were really very high, have now begun to temper. So thats also going in the banks favour. But a crucial issue is that they have raised rates by 5 the impact of that has really taken some time to filter through into the economy, there is sort of turning the type of rate rises on. Turning the tap. We are beginning to see the impact of that now weve seen in the Housing Market, weve seen it in some corporate insolvencies too. So that all leads back to this Balancing Act between crushing inflation, but avoiding a downturn its a tight rope and we are probably approaching the most narrow, trickiest part of tha
as the difficult post covid recovery continues to weigh on demand. so that s the picture on the factory floor when it comes to what consumers are facing when buying goods and services the consumer price index was unchanged year on year, compared with a slight gain in may, the slowest pace since february 2021. the us treasury secretary janet yellen has just left beijing following a four day visit in an attempt to bridge us china trade relations. she told reporters just before leaving china that despite significant disagreements, the relationship between both countries was moving towards a surer footing. my my purpose is to make sure that we do not engage in a series of unintended escalatory actions. that will be harmful to our overall economic relationship. with one another. and we have had very little contact, both senior officials and also just the american people and the chinese people, have had very little contact with one another over the last several years. in part