the people risking their lives to get aid packages to remote ukrainian communites, as russian forces try to stop them. and trouble on the streets of the city of love, as tourists dodge rubbish bags due to strikes. a very warm welcome to the programme. we begin in california. the leaders of the us, britain and australia, meeting in california, have given details of a defence pact that will provide australia with nuclear powered attack submarines. president biden said the aukus pact would boost security in the indo pacific region for decades to come. the agreement comes in response to china s growing military strength and territorial claims. our political editor, chris mason, has more from san diego. a pact of old democracies, coming together to counter a new and growing adversary china. australia and the united kingdom are two of america s most stalwart and capable allies. our common values, ourshared vision for a peaceful, prosperous future unite us all across the atlantic
let s update you on the fallout following the collapse of silicon valley bank. injapan today shares in its biggest banks have dropped sharply as global markets react to the banking sector sell off in the us. despite a promise from us president biden that his government would do everything needed to maintain stability. on monday americans were lining up outside their branches to access their funds. some venture capitalists in california were seen taking out their money in cashier cheques worth millions of dollars. the volatility sparked by the collapse of svb has led to speculation the federal reserve will now pause its plans to keep raising interest rates, designed to tame inflation. our north america business correspondent, michelle fleury, reports from new york. what the hammock in the us banking sector means for the broader economy is to be seen but it s taking calculations about how america s fight against inflation maeve plouffe. economists at goldman sachs no longer exp
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