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this came through in the early hours, a release for forward, not signed and sealed but it would seem tough negotiations have ended in an agreement. good morning. thank you for having me. this is good for the workers, this deal, because it is a 25% wage increase for workers, a reference point for the other car companies that are still striking and i think there is a lot of pressure to negotiate with workers and come up negotiate with workers and come up with a deal because the financial cost to the company to simply huge. we originally had the third quarter results from general motors and they say the strikes so far have cost $800 million, a big hit in their profitability and the overall estimate for the strikes so far is nearly $2 billion. it is costing. absolutely, they had to try to come to some agreement quickly. as you say, it was costing these car makers huge sums of money. also installing production, impacting supply of new cars, at a time when the us economy is r ....
but not sprinting. he is also concerned about economic uncertainty triggered from the conflict between israel and hamas as the death toll continues to rise. the bbc s economics editor faisal islam sat down with him and asked if the global economy was heading in the right direction. in the right direction. well, thins in the right direction. well, things are in the right direction. well, things are going in the right direction. well, things are going in - in the right direction. well, things are going in the - in the right direction. well, | things are going in the right direction. what we are seeing is despite these large shocks that you describe, the world economy is still standing. no global recession, you know, no massive slowdown that would put us into huge unemployment rates. we haven t seen that. we have seen a surge in inflation, but inflation is sort of coming down now, both headline inflation and core inflation, so that s the good news, things are improvin ....
he is also concerned about economic uncertainty triggered from the conflict between israel and hamas as the death toll continues to rise. the bbc s economics editor faisal islam sat down with him and asked if the global economy was heading in the right direction. well, things are going in the right direction. what we are seeing is, despite these large shocks that you describe, the world economy is still standing. no global recession, you know, no massive slowdown that would put us into huge unemployment rates. we haven t seen that. we have seen a surge in inflation, but inflation is sort of coming down now, both headline inflation and core inflation, so that s the good news, things are improving, the global economy has been resilient. at the same time, the growth numbers we have, around 3% this year, 2.9% for next year, this is way below historical average. so the global economy is limping along, its not sprinting but it s been resilient. right. do you from this point s ....
more than 4,000 are injured. hamas says it ll kill hostages if air strikes are launched without warning. it refuses to negotiate their release. in all honesty, i try not to imagine, because it s too difficult, and these are the times where i break. and i don t want to break right now, because i want to keep pushing for the release of my mum and brother. more on those developments in a few minutes. time for a look at the business news now with ben thompson. let s start with the latest market reaction to the events unfolding in israel and gaza. markets have been on edge as they absorb the many potential ramifications from the conflict. israel s central bank moved to calm markets and stabilise their currency by saying it would sell up to $30 billion of foreign currency. the price of oil has been in focus jumping up by 5% on monday at one point but has since stabilised. but the big mover has really been us bonds with treasury yields falling the most since march ....
about the economic uncertainty that will come from the conflict between israel and hamas as the death toll continues to rise. the bbc s economics editor faisal islam sat down pierre olivier gourinchas and asked if the global economy is heading in the right direction. well, things are going in the right direction. what we re seeing is despite these large shocks that you describe, the world economy is still standing. no global recession, no massive slowdown that would put us into, you know, huge unemployment rates. we haven t seen that. we ve seen a surge in inflation. but inflation is sort of coming down now, both headline inflation and core inflation. so that s the good news. things are improving. the global economy has been resilient. at the same time, the growth numbers we have around 3% for this year, 2.9% for next year this is way below historical average. so the global economy is limping along. it s not sprinting, but it s been resilient. right. do you from thi ....