market after government borrowing costs soar to a 20 year high. no end to the strong dollar. us interest rates are going higher and staying there for longer, according to policymakers at the federal reserve. also coming up: digging ourselves into a hole. how climate change is threatening the world s soil and our future food supply. we start here in the uk, where pressure is growing on prime minister liz truss and chancellor of the exchequer kwasi kwarteng to rethink their economic plans. financial markets have been in turmoil since they promised £45 billion worth of tax cuts funded by borrowing in a mini budget statement on september 23rd. the chancellor is due to set out how he will fund the package and reduce debt at the end of the month. facing questions in parliament on wednesday, the prime minister ruled out scrapping her tax cuts, but said spending on public services wouldn t be cut either. we are spending almost £1 trillion of public spending, we were spending 70
Trading, writing have an encouraging Inflation Report that said all three major indexes to record closes on wednesday. 0ther Indexes to record closes on wednesday. Other good vibes on wall street making their way to main street . In a way, yes, many people are exposed to the stock market through their Retirement Fund so Stock Market Gains like the ones we have seen this week will get real money for real people. Consumers are not feeling so rosy. A survey last week so they are significantly more worried about the Economic Outlook than they were last month. Those feelings ari burnu for some retailers like walmart which reported Quarterly Earnings that Beat Estimates on those the morning. Shoppers have been flocking to the Discount Retailer as inflation has taken a bite out of household budgets. Four shares in a record close on thursday. Now much of their gains are coming from high income at shoppers who are making up a greater portion of the company business. They are still spending on b
International monetary funds Chief Economist Pierre Olivier gourinchas. The imf and the world bank are having their annual meeting in marrakech and later today, Finance Ministers from the 620 and Central Bank Governors will be meeting to discuss the health of the Global Economy. According to the imf, Global Growth remains dampened by Supply Chain Disruptions linked to the covid 19 pandemic and russias war in ukraine, persistently high inflation, and spiralling borrowing costs. Heres our economics editor faisal islam. The message from the imf for the 190 Finance Ministers and central governor business in marrakesh is that the World Economy they hope had turned a corner after three years of rolling your clinical crisis. Well, it is limping forward rather than sprinting forward now with geopolitical crisis. Slowdowns in very specific countries like china that they had not expected. There is an additional worry about this new higher for longer Interest Rate world that might affect the bank
A School Dinner break. The head teacher said everybody was deeply saddened by the tragic event. The Ministry Ofjustice says its urgently investigating claims that Security Workers were paid by offenders to deliberately fit electronic ankle tags too loosely so they could be removed. After days of huge street protests, the Romanian Government has withdrawn a draft decree which would have reduced some penalties for corruption. Mother hello and welcome to our look ahead to what the the papers will be bringing us tomorrow. With me are the broadcaster penny smith and caroline wheeler, Political Editor of the Sunday Express. A quick look at the front pages. The Sunday Telegraph leads on the governments £60 million investigation into historic allegations of abuse in iraq. The paper says mps are due to conclude that its unfit for purpose. The observer reports that theresa mays government is going to make a major shift in Housing Policy, away from promoting Home Ownership and towards better dea
A School Dinner break. The head teacher said everybody was deeply saddened by the tragic event. The Ministry Ofjustice says its urgently investigating claims that Security Workers were paid by offenders to deliberately fit electronic ankle tags too loosely so they could be removed. After days of huge street protests, the Romanian Government has withdrawn a draft decree which would have reduced some penalties for corruption. Mother hello and welcome to our look ahead to what the the papers will be bringing us tomorrow. With me are the broadcaster penny smith and caroline wheeler, Political Editor of the Sunday Express. A quick look at the front pages. The Sunday Telegraph leads on the governments £60 million investigation into historic allegations of abuse in iraq. The paper says mps are due to conclude that its unfit for purpose. The observer reports that theresa mays government is going to make a major shift in Housing Policy, away from promoting Home Ownership and towards better dea