some reports say the treasury secretary, janet yellen, has been personally calling chief executives to warn them of the dire consequences a default could have on the us and the global economy. so how did washington end up here again? samira hussain has been investigating. first of all, this debt ceiling crisis is actually a political crisis, itjust happens to hinge on a must pass piece of legislation to save the country from economic catastrophe. so what exactly is happening here? major consequences for the economy. the us could default on its debt in a matter of weeks. debt limit measuresl may be exhausted. weeks to go before the federal government is unable to pay its bills. well, the us government spends more money than it brings in, so it needs to borrow money to pay its bills. it can only borrow a certain amount of money and if it needs to borrow more, congress has to approve that. it used to be a routine thing but not any more. republicans see this as an opportunity t
Died of a sudden heart attack in shanghai. Chinas long time second in command, he was known for his pragmatic economic policies. He rose through the party ranks despite not having any power base. At one point he was even earmarked for the top role as president. In his final term, he was the only leading politician who didnt belong to xijinpings group of xi jinpings group of loyalists. Xijinpings group of loyalists. More on that later. Now to the latest on the war in the middle east. Calls for a ceasefire to allow aid into gaza are growing amid warnings from israel that it is preparing for what it calls the next stage of combat against hamas. These are pictures from the ismay Israeli Military as tanks entered Northern Gaza on wednesday. Israel says it was a targeted rate, not the start of the ground invasion. Inside gaza, the humanitarian situation is dire as food and fuel supplies are running low. The Palestinian Red Crescent says it will be forced to shut down Ambulance Services in 2a
win a 23rd singles title. he is in action in the french open at the moment. earlierthere action in the french open at the moment. earlier there was a surprise defeat forjennifer bacuna as she was beaten by elise mertens. mertens is into the fourth round. sabalenka was a comfortable winner in her game. she is the second seed and dropped just four games to reach the fourth round at roland garros for the first time. now to basketball and denver will head to the second game against miami heat full of confidence they can deliver a first championship to the city. it came after they re all start centre that led them to victory over miami in the nba
earnings, nevertheless it is better than expected. analysts expected $30 billion so i don t think they are too unhappy with the results considering where oil prices have been. , considering where oil prices have been. , ., ., , been. it s important to remember aramco providing been. it s important to remember aramco providing a been. it s important to remember aramco providing a lot been. it s important to remember aramco providing a lot of- been. it s important to remember aramco providing a lot of money i been. it s important to remember l aramco providing a lot of money for saudi arabia as a whole and i wonder how all of this affected their finances, given we know they have big plans right now. it is finances, given we know they have big plans right now. big plans right now. it is very interesting. big plans right now. it is very interesting. just big plans right now. it is very interesting. just before - big plans right now. it is very interesting. just before the l b
laya lay a wreath. that is the memorial service for the victims of bloody sunday. the 50th anniversary today. a day of commemoration. earlierthere anniversary today. a day of commemoration. earlier there was a walk along the route of the civil rights march on the 31st of january, 1972 which resulted in 13 people being shot dead and 15 others injured when members of the army parachute regiment opened fire on those civil rights campaigners. and today, as they remember them, there was a walk along the same route, currently that memorial service, the wreath laying and there will be more commemoration now on bbc news it s time for dateline london with shaun ley.