let s start with china, because it s currently holding its annual two day national people s congress and has set out its economic forecast for the year. premier li keqiang told a packed audience in beijing on sunday, that the government hoped to achieve economic growth of around 5% in 2023. the figure is in line with most analyst predictions. last year, successive strict lockdowns slowed china s growth. official figures show the world s second largest economy grew by 3% last year, which was way below the government target of five and a half % and its slowest for decades. lets discuss this with louise loo, senior economist at oxford economics. there s widely expected to be a big shakeup in the team handling the economy. around 5%, it probably implies that growth as low as 4.5% is probably acceptable to the government and we do think that means the policy matters that we see will be a little bit more than what we expect last year. more than what we expect last ear. , , , ye
and are earning more than ever before. let s start with oil prices, because they ve risen some 20% over the past three weeks. this time last week, prices surged after the oil cartel, opec +, decided it would reduce its combined output by 1.1 million barrels per day. crude prices climbed after the cartel s announcement, but later in the week they steadied, following the latest us and chinese economic data which suggested weaker post pandemic growth. so where are we headed? russ mould, investment research director at aj bell joins me now. i m very excited about this. you are down by the seaside in brighton but actually here today. on the bank holiday we dragged you in. what are your thoughts about oil right now? opec + is seen as this organisation by the white house is not especially helpful when it comes to our outlook for the global economy, cutting production and causing another spike in the price of oil which is very inflationary? it spike in the price of oil which is very
china is the world s largest car market, and whilst tesla generates most of its money from its electric car business, boss elon musk has committed to grow its solar energy and battery business to roughly the same size. here s mariko with the details from singapore. it is quite a big deal because of course, tesla already has that huge plant in shanghai to make electric cars, so it is basically increasing its investment in china. the fact that this announcement came when tensions between washington and beijing are quite high, that is quite interesting. as you said, this is a mega factory, to produce mega packs. they are basically very large batteries that can store energy, so that they can help stabilise the power grid and also prevent outages. now, of course, many of our viewers associate tesla with those electric cars and that is where the company generates most of its money from. but the company s boss, elon musk, is very keen to also grow its solar energy and battery busine
aren t so reticent. seems to be yet another attempt at delaying, gaining time and perhaps leveraging on the health status of mr cozzolino in order to somehow tarnish or complicate further a very difficult and very silent investigation across europe. so i would say this is not very fair. news of this investigation first broke back in december last year. it was a bombshell moment. months later, the case continues to fizzle, but it s become more complicated. all the while, it s a cloud hanging over the european parliament. this place is the eu s only directly elected institution. nevertheless, it sometimes struggles for relevance and recognition. this story s certainly got it in the headlines, but in a way it s feared is damaging to public trust. this case is playing out in the open, before a possible trial has even begun. eu discomfort is palpable, whichever way you look. jessica parker, bbc news, in brussels. some breaking news and the mother of two israeli sisters killed last
a year, with businesses also in line for help. it s expected to be funded by £100 billion of government borrowing. in germany, the government has already brought in subsidies for low income households along with other measures, costing about about 60 billion euros which is £51 billion. injanuary, the french government forced the state owned energy provider to cap wholesale price rises to 4% for a year and they also brought it other measures. that s all expected to cost 45 billion euros which is £38 billion. but of course today we ll find out more about the support there you go, darling. this lunch club in peterborough provides much needed help for people struggling with cost. it s not uncommon that i get to the last two weeks when i waiting for the 15th when i m going to get paid and i ve got barely anything. the basic necessities. i don t get paid until next week and i ve literally got £4 of electric left, so i ve got to scrabble around because i m on a prepaid metre. i