For the Us Government to borrow money for 30 years. The big spike at the end is the concern. That is the cost of borrowing over 30 years. The Us Government is being forced to pay more as investors worry they will lose out when compared to the returns they can get from those higher Interest Rates. Its a similar story in the uk where like other governments there will be concern in the corridors of power that it costs more to pay off the National Debt and so there is less cash for other things. Simon french is Chief Economist at the uk Investment BankPanmure Gordon and i asked him to explain to me what is going on. Your summary was pretty accurate. The higher for longer Interest Rate environment is spooking investors who have been for at least 15 years of the view that Central Banks have their back in terms of keeping Interest Rates low, but also buying Government Debt, quantitative easing, money printing, which many viewers have been familiar with over the last 15 years, has gone into reverse and we are talking about quantitative tapering. What is that . That is those same Central Banks selling back Government Debt into the private sector for households and businesses to go and buy. Well, the clearing price, the Interest Rate that has got to be given up in order to get those people to buy that debt, is moving higher because that is where you will find additional buyers to buy this Additional Debt in the current environment. So lets talk about the implications first of all for government spending, given that if it is becoming more costly for them to borrow, what does that mean for the wider Economic Outlook . Well, it is correct. All parts of the world, certainly parts of the developed world, are grappling with particular issues regarding Capital Investment to fund the transition towards net zero, to fund a technological revolution post pandemic, and with lots of caution around the strategic positioning of china and russia, a lot of shoring off capacity, all that costs money. And the challenges for governments is those investments, as anybody who has made an investment themselves, at either business or household level, if your cost of borrowing has gone up the number of investments that are viable, that are benefit positive, start to go down, so there is a worry of course that the public sector, governments around the world, will be able to fund far fewer of those projects in the current Interest Rate environment than the ones they planned just a few years ago. And, simon, it reminds usjust how interlinked all these things are. Just when our attention was on the cost of borrowing, Interest Rates we thought were starting to peak and may start coming down again, this raises its ugly head, but it shows how interlinked all of this is and as consumers it has an effect on us as well. It absolutely does. A lot of borrowing at consumer level, be it mortgages, loans, credit cards, is intrinsically linked to the value of Government Debt and Interest Rates between the financial systems, so this may appear remote for some viewers, but it is very relevant for the forward pricing of Consumer Products and the degree to which consumers are going to have to for a protracted period of time pay considerably higher for their own borrowing. Simon french there who is Chief Economist at the uk Investment BankPanmure Gordon pretty volatile markets over the course of today. A new york court is set to hear the opening arguments for what is being billed as the biggest financial fraud in us history. The former crypto Billionaire Sam Bankman Fried Has denied claims that he stole billions of dollars from customers and investors. 0ur north America Business correspondent erin delmore is following the case in new york. What do we know about what has happened so far today . What do we know about what has happened so far today . There is a lot of fanfare happened so far today . There is a lot of Fanfare Outside happened so far today . There is a lot of Fanfare Outside the lot of Fanfare Outside the Courthouse Today and sam bankman fried is appearing in court. His parents made their way to the courthouse earlier this morning. Todayis courthouse earlier this morning. Today is about opening arguments. Both sides will have a chance to present their opening arguments and it will be expected to take around an hour and have to two hours, then we will move on to hearing from witnesses. There is a question about who the prosecution will choose to call first. They can call on one of the chief executives of the two companies and they are cooperating with government prosecutors here and they are expected to be some of the big Headline Testimony that we see over the course of the next few weeks. Another option is hearing from fdx customers who they say were defrauded by sam bankman fried and sam bankman fried denies those charges. I Sam Bankmanfried denies those charaes. ~. ,. ,. ,. , charges. I know you will follow that for us, all charges. I know you will follow that for us. All the charges. I know you will follow that for us, all the twists charges. I know you will follow that for us, all the twists and charges. I know you will follow that for us, all the twists and turns charges. I know you will follow that for us, all the twists and turns in i for us, all the twists and turns in what could be the biggest financial fraud in us history. Aston martin is perhaps best known as james bonds car of choice but its hoping that come 2025 it will also be known as the winner of the prestigious le mans car race. Its a 24 hour test of engineering and endurance and the company hasnt won it since 1959. But today its launched the new prototype of the Valkyrie Hypercar which it hopes will get it across the chequered line. Lets take you to the launch event at silverstone and Aston Martins executive chairman, lawrence stroll. Talk to me about this car because it is a lot of fanfare and hype and it is a lot of fanfare and hype and it is all about petrol heads, isnt it . It is a very special car we developed several years back and we have developed a road version and a racing version and it is our 110th Year Anniversary where we are very excited that our british brand with a british built car and a british team are going to be taking on the worlds bests at le mans in 2025. We are very hopeful and we believe in the strong success and have been developing the vehicle this year and in 2024 to get ready for le mans, and we are going to america where we do famous tracks like daytona. What do famous tracks like daytona. What is the connection do famous tracks like daytona. What is the connection between the sort of high level sport and what we might see driving down a street near us . I am looking at the numbers, last year you lost half £1 billion, your shares have been volatile. Some may say concentrate on the dayjob and not on this fancy high end stuff. And not on this fancy highend stuff. ,. , and not on this fancy highend stuff. ,. , and not on this fancy highend stuff. ,. , stuff. This fancy highend stuff is very profitable stuff. This fancy highend stuff is very profitable for stuff. This fancy highend stuff is very profitable for us, stuff. This fancy highend stuff is very profitable for us, we stuff. This fancy highend stuff is very profitable for us, we make l stuff. This fancy highend stuff is very profitable for us, we make a great amount of money selling these cars. We have a racing partner running the team and we are providing technology and selling the vehicle. By the way, this has tremendous commercial value and Marketing Value for the brand. These are our customers who we sell these cars too. There are customers who buy these cars and we have a gt three and a gt four following up that we are producing injanuary and they are extremely profitable and customers buy these cars to go racing at le mans and it is a highly profitable business and it gives us huge marketing options. The profitable business and it gives us huge marketing options. The reason i ask about petrol huge marketing options. The reason i ask about petrol head, huge marketing options. The reason i ask about petrol head, and huge marketing options. The reason i ask about petrol head, and forgive i ask about petrol head, and forgive me for using the slang, but we are talking about a change in the car industry, one being driven by environmental concerns. Tell me about your plans to electrify. Your electric car is not coming online until 2025. Why does it take so long . Until 2025. Why does it take so lona . Until 2025. Why does it take so lam . ,. , � until 2025. Why does it take so lonu . , � until 2025. Why does it take so long . That doesnt take long, we will be the long . That doesnt take long, we will be the earliest long . That doesnt take long, we will be the earliest of long . That doesnt take long, we will be the earliest of our will be the earliest of our competitors to have an electric vehicle in the marketplace and we will have our whole portfolio electrified by 2030, so we are not behind, we are rather ahead. Lawrence, good to talk to you. Executive chairman at aston martin. In other news saudi arabia, the worlds second biggest oil producer, has announced it will continue with a voluntary cut ofi Million Barrels per day until the end of this year. Russia will also keep in place its own reduction of 300,000 Barrels Per Day for now. Production levels are keeping oil pricies buoyant. Theyve been creeping towards 100 dollars a barrel in recent weeks. Uk supermarket giant tesco says its profits and sales jumped over the past six months as Food Inflation slowed. Sales were up 8. 4 for the six months to august, compared with the same period last year, and profits rose i3. 5 . Boss ken murphy says the company is trying to lower prices as customers struggle with Cost Of Living pressures. Around the world and across the uk. This is bbc news. Bbc news bring you different stories from across the uk. Stuart has surfed the severn for 50 years. When he catches a bore, it can be a ride that lasts for more than an hour. To see a wave going up a river in the middle of the countryside, with the cows and sheep running for cover. We saw two cranes yesterday. And you will see 1,000 birds, and salmonjumping, it is just being close to nature. Unlike anything else in the whole world. This is like the eight wonder. His passion has taken him round the world. To france, borneo and china, where he was nearly out of his depth. It was enormous, about 25 feet high. But it was like an eight foot, ten foot lot of white water, and then a massive swell going into knee deep water. And that bore that year had killed 1,200 people locally. Everyone here knows stuart and stuart knows everything there is to know about a bore that is renowned in gloucestershire, and beyond. Youre live with bbc news. More than 1. 7 million afghans have been told to leave pakistan by november the 1st. Pakistans interior minister, sarfraz bugti, said illegal afghans would be expelled and their businesses seized if they stayed beyond the deadline. The Afghan Embassy in islamabad has accused pakistan of harrassing afghan immigrants. Live now to omaha with hanif sufizada, a policy analyst at The Center For Afghanistan Studies at the university of nebraska. Thank you so much forjoining us. It sounds extraordinary, bearing in mind the numbers involved and the length of time they have been told they have to leave the country, so perhaps you could give us the background and the lead up to this. I think this is a very hasty and un calculated decision because there are a lot of variables involved in this. It is not easy to say that the afghans who are not document it will leave the country in less than a month. This should have been in discussion with the unhcr and the outgoing government itself and the pakistani authorities and they should work it out how they can do this under conditions of safety and dignity, that is the most important thing for all afghans and other people who are living in pakistan. It will have repercussions for afghanistan and for pakistan in terms of the economic situation. The afghans who are living in pakistan bring a lot of money in terms of businesses and there are tribal relations between the cross borders. My relations between the cross borders. My own Family Members married pakistanis and there are afghans who married in pakistan. I think such a restriction will bar these relations and several people to people relations that the two governments have been working on. It will also bring some humanitarian crisis across the border. It bring some humanitarian crisis across the border. Bring some humanitarian crisis across the border. It sounds like an extraordinary across the border. It sounds like an extraordinary number across the border. It sounds like an extraordinary number of across the border. It sounds like an extraordinary number of people, i across the border. It sounds like an| extraordinary number of people, 1. 7 million afghans. In terms of trying to leave pakistan by november the 1st, that is four weeks away . 2 . 1st, that is four weeks away . 27 da s ist, that is four weeks away . 2 days exactly ist, that is four weeks away . 2 days exactly they will ist, that is four weeks away . 2 days exactly they will have to leave. I dont know how possible it will be because we have not heard anything from the unhcr. 0nly will be because we have not heard anything from the unhcr. Only the taliban government gave a statement. But they have been working on two diplomatic means. These guys who have come to pakistan. They have taken over kabul and they have Security Threats in afghanistan, but we understand the pakistan situation and if there are any Security Threats they should be resolved through dialogue with the taliban government rather than pressuring the afghans who have almost lost their home and are homeless. 0r their home and are homeless. Or should they go . They have come to pakistan to seek protection and safety. If that safety is not given to them i dont know where they should go. There are many people who are still waiting on applications who are waiting for their Immigration Status to the unhcr. These people will be badly affected. We will have to leave it there, but thank you for giving us your insight. Lets return to our attention to Nagorno KarabakhInside Azerbaijan which is almost entirely deserted after most of the Ethnic Armenians living there left to escape violence in the area. The French Foreign minister has been in armenias Capital ProjectMilitary Equipment to meet the countrys defence needs. State media in azerbaijan says that has prompted the president to decide against attending eu brokered talks in spain this week with armenias Prime Minister to discuss the future of Nagorno Karabakh. 0ur reporter told us about the french support for armenia. ,. Us about the french support for armenia. ,. ,. , armenia. France says it has agreed to sin a armenia. France says it has agreed to sign a contract armenia. France says it has agreed to sign a contract with armenia. France says it has agreed to sign a contract with armenia armenia. France says it has agreed| to sign a contract with armenia that would allow it to supply Military Equipment to this country to help with its defence needs. This comes at a point when the relations between armenia and its strategic ally, russia, hita new between armenia and its strategic ally, russia, hit a new low. Between armenia and its strategic ally, russia, hita new low. 0n ally, russia, hita new low. On tuesday the Armenian Parliament ratified the founding statute of the International Criminal court which means that this country will be under the jurisdiction of the icc. The move has been welcomed by european leaders. They are saying that now armenia willjoin the 123 states committed to the rule of law. But it is seen as extremely hostile by moscow. Moscow says that it is an unfriendly move and has warned of consequences for armenia. This country is dependent on russia economically and we are already hearing reports that armenia brandy is one of the main exports and products from this country and it is stuck on the border between georgia and russia and undergoing additional quality controls. Russia has moved so called food wars against georgia, moldova and armenia in the past to punish the states for their unfriendly steps towards moscow. Health officials in kenya are investigatin