where in a few hours time for emergency talks on how to deal with the country s debt ceiling. some reports say the treasury secretary janet yellen has been personally calling chief executives to warn them of the dire consequences a default could have on the us and the global economy. so how did washington end up here? michelle fleury, north america business correspondent. it feels oddly familiar, these last minute talks to try and avert a crisis. last-minute talks to try and avert a crisis. , , , , ., ~ , crisis. yes. this is high-stakes olitical crisis. yes. this is high-stakes political theatre crisis. yes. this is high-stakes political theatre that crisis. yes. this is high-stakes political theatre that we - crisis. yes. this is high-stakes political theatre that we are i political theatre that we are witnessing, president biden will meet with congressional leaders later today, meet with congressional leaders latertoday, but meet with congressional leaders later today
some reports say the treasury secretary, janet yellen, has been personally calling chief executives to warn them of the dire consequences a default could have on the us and the global economy. so how did washington end up here again? samira hussain has been investigating. first of all, this debt ceiling crisis is actually a political crisis, itjust happens to hinge on a must pass piece of legislation to save the country from economic catastrophe. so what exactly is happening here? major consequences for the economy. the us could default on its debt in a matter of weeks. debt limit measuresl may be exhausted. weeks to go before the federal government is unable to pay its bills. well, the us government spends more money than it brings in, so it needs to borrow money to pay its bills. it can only borrow a certain amount of money and if it needs to borrow more, congress has to approve that. it used to be a routine thing but not any more. republicans see this as an opportunity t
what a game later at the bernebeu where manchester city have the chance to get champions league revenge over real madrid when they go head to head. we can speak to olly foster. it is pep guardiola s treble chasing team against the team thatjust love this trophy. against the team that “ust love this tro - h . . against the team that ust love this tro - h . . ~ . against the team that ust love this tro . h . ., ~ ., ., against the team that ust love this troh . . . ., against the team that ust love this troh. . ., ., trophy. real madrid have won it 14 times, trophy. real madrid have won it 14 times. winning trophy. real madrid have won it 14 times, winning it trophy. real madrid have won it 14 times, winning it last trophy. real madrid have won it 14 times, winning it last year, - trophy. real madrid have won it 14| times, winning it last year, beating liverpool in the final, and of course also but this time they have erling haaland and this time the real madrid s
confidence in america. samira hussain in the united states who will keep us up to date on those talks. the chairman of supermarket giant tesco has strongly denied claims that he touched women inappropriately on two separate occasions. a report in the guardian newspaper alleges thatjohn allen touched an employee at the supermarket s shareholder meeting last year. it also claims mr allen, who is the former president of the cbi, grabbed a woman at one of its events in 2019. our business correspondent emma simpson has more. what more do we know? just to say john allen what more do we know? just to say john allen is what more do we know? just to say john allen is one what more do we know? just to say john allen is one of what more do we know? just to say john allen is one of the what more do we know? just to say john allen is one of the most - john allen is one of the most senior, well known businessman in the uk stop as you say he was president of the cbi, one of the uk s leading
governments like china, that is where you get into the global dimension, and if people lose faith in the ability of the us government to honour its debts especially us treasuries, no one is sure what that was due to the bond market because we have never really been here before and that is why we have these predictions of potentially huge upheaval in global financial markets. i upheaval in global financial markets. ~ ., ~ , , markets. i know you will keep us u dated markets. i know you will keep us undated but markets. i know you will keep us updated but for markets. i know you will keep us updated but for now markets. i know you will keep us updated but for now thanks - markets. i know you will keep us updated but for now thanks for i updated but for now thanks for joining us. the chairman of supermarket giant tesco has strongly denied claims that he touched women inappropriately on two separate occasions. a report in the guardian newspaper alleges thatjohn allen touched an emplo