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I m ritika gupta. Welcome to business today, live from New York, us shares have made a strong start this thursday as investors wrap their heads around Thatjumbo Half Percent cut in Interest Rates from the Federal Reserve and later comments from chairjerome powell. Was it a Panic Measure in response to a sharp slowdown in the economy . Traders remember similar moves just before the Dotcom Crash the Global Financial Crisis and the pandemic. Well, in his Press Conference Mr powell was keen to dispel any such negative thoughts. The us economy is in a good place and our Decision Today is designed to keep it there. More specifically the economy is growing at a solid pace. Inflation is coming down closer to our 2 objective over time and the Labour Market is still in solid shape. Our intention is really to maintain the strength that we currently see in the us economy. Lets bring ....
Caution at the Bank Of England. It keeps Interest Rates on hold but the governor tells us they are optimistic that Borrowing Costs are on the Path Down. Over on Wall Street though the party is back on. Shares hit a new Record High as the fed says the economys in a good place despite Itsjumbo Rate cut billion dollar breaks Australias Economy rides a wave of interest in surfing. It is the government fully with the sport . All those puns to come a little later in the programme. We start here in the uk where the bank of England Governor Andrew Bailey has said Interest Rates are now gradually on the Path Down despite the Banks Decision to keep the cost of borrowing on hold today. The banks main rate was left at 5 after it was cut last month for the first time in more than four years. The bank ratcheted up Interest Rates to try and control inflation which hit a peak of 11. 1 back in 2022. ....
On criminal issues. And this was quite an interesting conspiracy in that it really was two employees of rt, which is a company that is banned basically from broadcasting in the united states, europe, the uk, has been since the start of the ukrainian war, and they were both working but representing multiple individuals behind the scenes, trying to make it seem as legitimate an operation as possible, and posing as a billionaire who ended up being fictitious. To say that it was a billionaire with a background in france, in brussels, who was a banker, who was trying to get this information out. And really, it was these two rt employees posing as him and employees that worked for him. Ok, let s, yeah, let s unpick it a bit more. You mentioned that company, that tennessee firm, tenet media. Just tell us about the company. What does ....