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jon heffernan, professor of semiconductor materials and devices at the university of sheffield and director of the national epitaxy facility, tells us more. it s part of a global battle to control the semiconductor industry, which has been undertaken by many countries. the 21st century is going to be a technological century and it is completely underpinned by semiconductors. you ve got semiconductors everywhere, from lighting to computer chips, yourfridge to your car. and the pace of innovation is accelerating and it is going to be more and more important. so each country around the world is actually considering very carefully what its strategy in this technological area is and what its economic strategy is, its security strategy is. and so this is just the latest example, particularly between china and the us, but there are other countries involved. some countries control different aspects of the semiconductor industry. some control the natural resources, the minerals ....
commons. time for a look at the business news now. we start with the unfolding crisis in the red sea and concerns that the continued attacks on cargo ships by yemen s houthi rebels will affect developing countries the hardest. that s the warning from the world trade organization. today the us has launched a fourth round of airstrikes against the rebels the us military said it targeted missiles that could be intended for attacks on ships. as vessels divert to longer and more costly routes that avoid the red sea, supply chains have been disrupted and economists have warned it could add to inflation. the wto s director general, dr ngozi 0konjo iweala, has been speaking to our economic editor faisal islam at the world economic forum in switzerland. iamjoined i am joined here by the director general of the world trade organization. thank you forjoining 0rganization. thank you forjoining the bbc. 0bviously people are concerned about the fluidity of trade given this big geop ....
plus rising prices falling ratings. can president biden win the argument on the us economy with just days to go until the midterm elections? and a pressing crisis. the cost of olive oil set to soar with harvests shrivelled by europe s summer heatwave. hello. we start here in the uk which is now facing the longest recession since records began, a century ago. that was the bleak warning from the bank of england on thursday, as it raised interest rates to 3% to try to dampen down soaring inflation. the bank says the uk economy is already in recession, and could keep declining until the middle of 202a. the pound slumped on the news to its lowest in more than two weeks. here s our economics editor faisal islam. the end of a decade and a half of ultralow interest rates was always going to be difficult, but dealing in mortgages has in recent weeks felt more like the stock market than the housing market. , , stock market than the housing market. , , . ., , ....
The kremlin previously said the trip will strengthen the friendship between the two nations. The pair are expected to discuss supplying weapons to russia for its war in ukraine. The New York Times reports that mr kim is seeking advanced satellite technology, Nuclear Powered submarines, and food aid. The us has warned north korea against weapons sales, and critisized mr putin for needing north koreas help. President putin launched this war against ukraine with its full scale aggression, with a dream of restoring the glory of the russian empire. That hope, that expectation of his has failed, it will continue to fail and i think there is no better evidence of that than now, a year and a half later, not only has he failed to achieved his goals on the battlefield but you see him travelling across his own country, hat in hand, to beg kim jong un for military assistance. Our seoul ....
The uae and most recently algeria. International Emergency Workers arejoining the recovery effort, with some saying the government response is too slow. The bbc s tom batemen sends this report. Dawn lights up the destruction in the village of moulay brahim. Morocco s most remote hillsides have become encampments of the survivors. Hakima has lost contact with her son, who fled the village, she says, to get help. She was already grieving. Her husband had been sick and died before the quake came. We are staying in the streets. I feel bad for my son. His dad passed away and i have to take care of him, says hakima. People are here to help each other. The villages mosque, still standing, becomes a makeshift refuge. But in the morning we spent here, there were no signs of any official aid response. Hussein survived when his son freed him from the wreckage of their home. But his wife, fatna, was killed. My wife, she stayed in the house ....