let's start with the international monetary fund, which has warned russia's invasion of ukraine is likely to send economic shock waves around the world for years to come. the fund believes the conflict and the on—going effects of the pandemic are likely to lead to lower growth. the imf has cut its global forecast for this year — down almost a whole percentage point, tojust 3.6% for 2022. it's also predicted the russian economy will shrink by 8.5%. and ukraine's economy is expected to contract by more thana third. and the uk will also be hit — the imf forecasts the uk economy will grow by 1.2% next year, which is the slowest out of all g7 nations. our economics editor, faisal islam has more from washington. just as the world appeared to be recovering from the aftermath of the covid pandemic, another unprecedented economic shock has hit — the war in ukraine. a severe setback to the recovery, says the international monetary fund, slowing growth, and driving up prices. in washington this week, finance ministers and heads of central banks are meeting to try to tackle these twin shocks to the system, as the imf sharply cut its forecast for the world economy at the same time as raising its forecasts for inflation. we view a number of clouds on the horizon. first and foremost, the war itself could escalate militarily, but also the sanctions could be tightened. then there is inflation growing and broadening everywhere, and that might lead to a more aggressive path of monetary policy tightening in many parts of the world, including the us, but also in europe or the uk, and that would weigh down growth. but this is affecting both rich and poor countries, including the forecasts for the uk. last year, the uk was the top performer in the g7, rebounding from the severe pandemic hit. for this year, injanuary, the imf had predicted the uk still at the top — much trumpeted by number 10 and number”. but now, although growth is still healthy, that's no longer the case. and next year, the imf now predicts the uk will be the slowest growing economy in the g7, growing at just i.2%. and at the same time, the uk is forecast to see the highest inflation in the g7. it is a troubling combination of lower growth than expected, and at the same time, even higher prices, and it is affecting the whole world. but this imf forecast raises the question about whether it's affecting the uk even more so, and whether it's the simultaneous rise in energy prices, taxes and interest rates that's driving this. back in the house of commons, energy company bosses said these big economic numbers were going to have a very real impact. never seen anything like it in my 30 years in the industry. so, we are expecting a severe impact on customers' ability to pay. there is no doubt that the government's intervention, the £200 that will be paid in october and the rebate on council tax will help, but it isn't nearly enough. the treasury said it recognised concern for households from these forecasts and that £22 billion of support was being offered this year. but it is these squeezes on household incomes, from energy, fuel, food and tax that risk weighing down the entire economy. faisal islam, bbc news, in washington. netflix shares sank some 25% in after hours trading in new york, after the streaming giant announced a drop in subscribers for the first time in over a decade. netflix lost a massive 200,000 members in the first three months of the year, after it raised prices in key markets such as the us and uk. the company also warned more losses were coming, as people cut back on spending due to rising inflation. joining me now from los angeles is guy bisson from ampere analysis. die, what can and should be read into these numbers? are they a one—off, is it to do with russia, because they have obviously cancelled that subscription there, that part of the business, or is this a wider issue here, and about competition and pricing? i think it is a combination of both. russia had an impact, they cut off 700,000 subscribers in russia. without that cut—off, they would have grown by half a million, so they've dropped 200,000 instead. but the key point is that they predicted additions of 2.5 million, so they are off target by 2 million subscribers this quarter, and they are saying that next quarter they expect to drop another 2 million. so it is a bit of a sucker punch for netflix, and certainly well below their own expectations. it certainly well below their own expectations.— expectations. it is surprising that they — expectations. it is surprising that they could _ expectations. it is surprising that they could be _ expectations. it is surprising that they could be that - expectations. it is surprising that they could be that far i expectations. it is surprising | that they could be that far off their own numbers, because honestly these are the guys who had the algorithms, these are the guys who develop all their content on the basis of algorithm so it is slightly concerning. netflix is pointing to password sharing within a single household is a big problem for them, lots of different people on the same netflix account, so they are not making of a think as much money per household. but their rivals, disney plus etc, they don't seem to have a problem with this, so is this just an excuse, or is there something else going on here? i excuse, or is there something else going on here?— else going on here? i don't think it is _ else going on here? i don't think it is an _ else going on here? i don't think it is an excuse, - else going on here? i don't think it is an excuse, and l think it is an excuse, and netflix have been around a lot, lot longer than disney plus on the other new entrants. what they are saying is that around 100 million people are sharing an account, or using a shared password to watch their service, and that compares to 220 million legitimate households. they have been running experiments in latin america about cracking down on that, offering opportunities for a household to add a subscription to their bill, and they have talked about introducing that over the next six to 12 months on a wider basis. so that crackdown will potentially bring a significant new pool of customers to them. but it is going to annoy a lot of people, and there is a lot of people, and there is a lot of competition out there at the moment, and some of the competition are offering a lot more than just sitting down and watching something. you take amazon for example, they are offering discounts on flights, so what is it that will get the eyeballs over at netflix and more subscribers there than anywhere else? it more subscribers there than anywhere else?— anywhere else? it all comes down to content _ anywhere else? it all comes down to content and - anywhere else? it all comes down to content and how i anywhere else? it all comes i down to content and how good that content is and of course the new entrants are all backed by hollywood studios, almost of them, and they have a vast library of content, and also they own a number of very strong characters, very popular characters, marvel and others, that really drive viewers and fan bases. so netflix is competing with that, and they are competing by spending big on contact. —— on content. but with this there negative growth in subscribers, they have talked about not produce content spend but cut back on the rate that it grows. so it is getting very cut—throat out there, in terms of the content thatis there, in terms of the content that is going to drive those subscriptions against their studios. , ~' subscriptions against their studios. , ~ , ., ., studios. sounds like semantics to me. thank _ studios. sounds like semantics to me. thank you _ studios. sounds like semantics to me. thank you for _ studios. sounds like semantics to me. thank you for your - to me. thank you for your analysis. let's get some of the day's other news. p&0 ferries has sacked seven agency staff after they broke the company's alcohol consumption rules. the company said it has a zero—tolerance policy towards drinking whilst on duty. last month, p&0 replaced 800 uk seafarers with cheaper agency staff. two former managers of deliveroo have been fined 30,000 euros by a french court for abusing the freelance status of cycle riders working for the firm. the company was also fined the maximum penalty of 375,000 euros. deliveroo said it plans to appeal the decision. the people of france will get the chance to see their two presidential candidates go head to head later today, in the only debate planned in the race for the top job. president macron and contender marie le pen have very different views on the countries future, but with europe gripped by the impact of russia's invasion of ukraine and the rising cost of living, the candidates will have to make some serious promises to gain the voters confidence. joining me now is tomasz michalski, who's an economics professor at hec paris. how is it shaping up, who is going to do better out of this and who is going to enjoy it more? and who is going to en'oy it more? ~ , , ., ., more? well, this is going to come as _ more? well, this is going to come as you _ more? well, this is going to come as you said, _ more? well, this is going to come as you said, this - more? well, this is going to come as you said, this is - more? well, this is going to come as you said, this is a l come as you said, this is a full battle between two candidates like in very few democracies, so it is going to be very brutal. marine le pen is within striking distance of macron, so she will really try to take her chance on becoming the next president. the groups of voters they will try to address are slightly different, but they are on the left, solar panel is going to aim for the working class vote, and she will talk about the pension age. she is going to talk about the cost of living, accusing mr macron of negligence in this front, and also she will talk about dismantling of the welfare state that occurred during the reign of macron, the mismanagement of the covid pandemic, the fact that you have more outsourcing of governmental services to private contractors and so on. macron will look for the young vote, ecologists, he will try to portray the plan as an extremist that has no ambition on green policies and is going to criticise obviously her international positions. qm. international positions. 0k, . reat. international positions. 0k, great- so — international positions. 0k, great. so we've _ international positions. 0k, great. so we've got - international positions. 0k, great. so we've got a - international positions. 0k, great. so we've got a lot going on here, we got the cost of living, rising inflation obviously going to be the forefront of voters's mind while they are watching this debate, but also people around the world have been watching the world have been watching the invasion of ukraine, and trying to sort of work out where they stand on this. macron has put himself forward as the voice of europe, whereas left hand in the past certainly has been supportive of putin. so where did these two candidates set, in terms of how france feels itself about its own role in this war? 50 france feels itself about its own role in this war? so macron definitely took _ own role in this war? so macron definitely took the _ own role in this war? so macron definitely took the cloak - own role in this war? so macron definitely took the cloak of - definitely took the cloak of enmity with putin and perhaps after the election he will move more aggressively to support legal weapons to ukraine. you also try to blame part of the costs living increases on the war in ukraine, and points out the shortcomings of the ten on this front, close links to putin, she had loans from russia to finance her past campaigns. the plan however will deflect, she was a look, i condemn this war, this is really not how i viewed putin before, and actually we should talk to russia as a superpower. more and more mr macron perhaps should spend more time at home and carrying about really what voters care about, the cost of living, rising energy, food prices, and not in a futile manner trying to stop an invasion that he cannot affect. thank you for your time. just a reminder, that sounds like it will be a fascinating debate between the two french presidential candidates and it will be today, wednesday. stay with us on bbc news, still to come... uk ramps up the financial war on russia, by announcing plans to blacklist the moscow stock exchange. the stars and stripes at half—mast outside columbine high. the school sealed off. the bodies of the dead still inside. i never thought that they would actually go through with it. choir sings. one of the most successful singer—songwriters of all time, the american pop star prince has died at the age of 57. ijust couldn't believe it, - didn't believe it, he wasjust here on saturday. for millions of americans, the death of richard nixon in a new york hospital has meant conflicting emotions. a national day of mourning next wednesday sitting somehow uneasily with the abiding memories of the shame of watergate. and lift—off of the space shuttle discovery, with the huddle space telescope, ourwindow on the universe. this is bbc world news, the latest headlines... ukrainian forces say they're holding out against russia's latest attacks — despite intense bombardment in the eastern, donbas region. let's focus on sri lanka now, which is facing its worst economic crisis in more than 70 years. it's run out of dollars to finance vital imports including fuel, medicine and food. fuel prices over the past week have increased by a massive 60%. this has led to protests across the country. officials have requested emergency financial help from the international monetary fund, as it seeks a solution to its $51 billion worth of foreign debt. 0ur correspondent archana shukla joins us now live from colombo. what is the latest on the discussions with the imf? they are midway _ discussions with the imf? they are midway through _ discussions with the imf? iia: are midway through what discussions with the imf? tia: are midway through what we expect to be tough negotiations, at this point they have requested for rapid these are short—term lows that can be dispensed strings that come with package, these financial problems are considered to although reluctant they are likely to consider in imf came up sri lanka officials, they said even after financial assistance they would want to get some sort of confirmation that they will make their debt more sustainable, meaning they will bring in policies for better repayment of their debt and a stronger fiscal position, and sri lanka. stronger fiscal position, and sri lanka-— stronger fiscal position, and srilanka. ., ., ., sri lanka. you are there on the round, sri lanka. you are there on the ground. how — sri lanka. you are there on the ground, how bad _ sri lanka. you are there on the ground, how bad is _ sri lanka. you are there on the ground, how bad is the - sri lanka. you are there on the l ground, how bad is the economic situation for ordinary people? there are shortages, because the government has been unable to import essentials like food, fuel and medicines, there are shortages on the ground and that's intensive mind by the day. because of the shortages prices are being hiked, just yesterday state run oil companies hiked prices for auto diesel by 50%, not the first time prices have gone up, and the last four months, four or five times instances of oil companies raising prices and thatis companies raising prices and that is pinching people. prices of bread were raised yesterday ijy of bread were raised yesterday by 50% because flower prices have gone up, all the other essentials have seen a price rise, inflation around 17 inflation and 20% in the last few weeks and that is pinching household budgets and sri lanka. the issues, the shortages are more intense than smaller towns outside of palumbo, even in columbia you can see instances of that and thatis can see instances of that and that is also intensifying protest and agitation on the street, with desperate citizens coming out on the streets, demanding fuel, demanding food in their departmental stores. just yesterday there were thousands of people blocking the main highway connecting central sri lanka to colombo, police had to infect use gunshot fires and tear gas to disperse the crowd, and one protester was killed in that. thank you for your time and contribution to the programme. how do you feel about networking? we all know it's important for growing a business and developing our own careers, but not everyone is comfortable doing it. well, we've been speaking to one entrepreneur who's learned to draw inspiration from her father when it comes to this skill. i learned so much about the importance of networking is an entrepreneur by witnessing my father give out business cards on holiday. there is a running joke amongst my friendship circle as my father, who was in residential property broking will give out business cards to anyone, and thatjoke has always made me feel a little embarrassed. as children we would suffer father giving business cards to anyone who walked into a room and it didn't matter who they were, used to beg my father to enjoy his time and be with us but we —— didn't realise how important it was to his business. now is i realise the importance of being direct in building your network and support network and building relationships for the benefit of the business. no matter what stage you are in building your business, with a very early it's important to have the right people around you advocating for you and opening doors for you. that is one of the benefits from working, co— working space when you can meet so many people who can be crucial business relationships for you down the line. now when i take my father on holiday with my children and i watch him and them giving up business cards, i am proud of them learning to be as direct as that as well. the uk continues to ramp up the pressure on russia, after it announced plans to revoke the status of the moscow stock exchange. this means investors will not be able to access certain uk tax benefits in the future when trading securities on the moscow exchange. the move comes after the kremlin announced a new measure which would force russian companies to delist their overseas shares from financial markets outside russia. joining me now is fiona cincotta from city index. this is an interesting move, investors with exposure to the exchange are surely going to be about pulling out? you exchange are surely going to be about pulling out?— about pulling out? you would think so it's _ about pulling out? you would think so it's become - about pulling out? you would think so it's become very - think so it's become very difficult to hold on into vestments in russia, there is a lot of uncertainty, very much now, we don't know what the next sanctions will be and for an investor that is not a comfortable position to be in. i think we're going to see a withdrawal of that, it's become a very difficult environment to trade in investors. i think the more sanctions applied to russia, to isolate it from the globalfinancial russia, to isolate it from the global financial system, russia, to isolate it from the globalfinancial system, more investors are going to want to move away from those investments.— move away from those investments. , ., ., ., investments. many of the ma'or russian energy d investments. many of the ma'or russian energy giants �* investments. many of the ma'or russian energy giants are i russian energy giants are listed in the uk, surely removing them will have a big impact on banks and pension funds here as well?— funds here as well? that's riaht funds here as well? that's right there _ funds here as well? that's right there are _ funds here as well? that's right there are going - funds here as well? that's right there are going to i funds here as well? that's right there are going to be funds here as well? that's - right there are going to be big impacts we had seen already though, a lot of russian listed stocks in the uk, and across the globe, have seen their prices crash quite considerably, around the beginning of the invasion. we did see a suspension as well in quite a few of those share prices as that happened. this has been an extremely volatile area of the market to be involved in, and the implications can be brought, as you said, these stocks are likely to have been held in some pension funds, and other funds and investment funds, so it is something that's going to get notjust it is something that's going to get not just specific specialised investors but it also affect the broader population invested in funds and pension schemes. people across britain, _ and pension schemes. people across britain, for _ and pension schemes. people across britain, for example, l across britain, for example, and internationally, or potentially going to be embroiled in all of this. i'm just thinking about the fight or retort to this. russia as i understand preparing legal action against the frozen 600 dollars worth of —— foreign currency reserves. do you think they stand a chance and how might that change things? there hasn't been _ might that change things? there hasn't been very _ might that change things? there hasn't been very many, - might that change things? there hasn't been very many, very - might that change things? there hasn't been very many, very few| hasn't been very many, very few successful attempts to legally overturn sanctions, in the uk and europe. uk throughout the bid by venezuelan to overturn some sanctions, as far as the eu is concerned they have a very clear pathway, very clear legal pathway for any way for russia to follow, in order to attempt to overturn the sanctions. i think it's going to be very unlikely they are going to be able to achieve such a move. we heard from the imf yesterday about the effect the sanctions and sanctions in general are having on russia, we know their gdp is expected to fall by eight —— 8.5%, contract by that amount this year which will be a big contraction, not as bad as ukraine obviously, as far as the rouble concerned it is holding up very well and has recovered a lot of its losses, what we are seeing their as these financial restrictions and sanctions being imposed on russia being offset by the incoming of the petrol money and commodity money. thank you very much — for your time. that is it from me on bbc world. more world news coming up with me, tricky frets. see you soon. —— victoria fritz. hello. for the keen gardeners out there, if your garden and your planters are looking a little bit parched at the moment and you missed out on some of the showers we saw on tuesday, you're going to be grabbing the watering can for the rest of this week — very little rain around. there will be a few showers across western areas, but notice how high pressure is dominating the weather charts in and around the uk, pushing rain—bearing low pressure systems down towards iberia, time and time again. and through the week, the breeze will be strengthening. in fact, a bit more breeze tonight across england and wales into the morning, which means it won't be quite as chilly as it has been. but for scotland and northern ireland, a touch of frost and patchy mist and fog around. that should clear by the end of the morning rush hour. there will be some cloud drifting westwards across england and wales, but overall, a lot more sunshine around on wednesday, compared with tuesday, although a few showers will pop up through the afternoon across some of these western districts. most, though, dry. as i said, a bit more of an easterly breeze, making it feel cooler along those north sea coasts of england especially, 9—10 celsius for one or two, but actually, the air�*s a little bit warmer than tuesday, so central and western areas, temperatures up to around 16—17. 17 also possible in and around the moray firth as well. now, as we go through wednesday night into thursday, we continue with a predominantly dry story. a little bit of cloud drifting in on that breeze, but with the breeze continuing to pick up, notice how the temperatures aren't going to drop as much. we should be clear of a frost as we go into thursday morning. a lot of dry and sunny weather, though, to come on thursday. greater chance of some mist and low cloud though, the coast of north east england, eastern scotland. a bit of cloud drifting through england and wales, but sunny spells for many and still pleasantly warm where you have that sunshine. but it is going to start feeling cooler down those eastern coasts, and you've got to bear in mind that easterly wind, coming off sea temperatures around 7 or 8 degrees. it is always going to feel cooler here, especially so on friday as that wind picks up even further. greater chance of some slightly thicker cloud, especially across england and wales, by this stage, with some light showers, even a little bit of drizzle in places, but most will be dry. sheltered from the breeze, western areas, where it could be quite gusty that wind, is where we'll see the highest of the temperatures, 15—16 west of scotland, maybe up to around 15 or 16 on the south coast of england. quick look into the weekend, and a bit of a complication as to what happens to this area of low pressure, how further north out of iberia it gets and its influence on us. throughout the weekend, we'll still have that breeze with us and that will make it further along the eastern coasts. in the sunshine feeling quite pleasant, but a greater chance of one or two more showers. bye for now. good morning, welcome to breakfast with dan walker and nina warhurst. 0ur headlines today. western allies promise more military aid for ukraine as fighting intensifies along a 300—mile front line in the east of the country. prime minister appeals for party unity ahead of a vote tomorrow on whether he should be investigated over claims he misled parliament. prince harry says he's making sure the queen is protected and has the right people around her, in an interview with us television. hollywood starjohnny depp takes the stand in the us, denying claims that he abused his ex—wife amber heard. good morning. heard. in sport, liverpool fans unite to show their support for cristiano ronaldo on a night they demonstrate their dominance