lower but to put that into context it was at zero in europe this time last year. and in the world s largest economy the us, the cost of borrowing is at 5% to 5.25%. but critics point out rising interest rates is a blunt tool that comes with its own set of dangers that can pose further risks to the economy. so what else can be done? well, central bankers are getting together today in portugal to chew over this challenge. joining me now isjennifer mckeown chief global economist at capital economics. good morning to you, jennifer. so it s a lovely location, portugal, you got christine lagarde there, andrew bailey, jerome powell among others, what do you think they will chew on? of course they re all increasing the cost of borrowering and in some places like the uk, so far it s having little effect. little effect. yeah, you re ri . ht. little effect. yeah, you re right. beautiful little effect. yeah, you re right. beautiful location, | little effect. yeah, you rel right. be
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 geopolitic
investing the money they had originally promised. from new york samira hussain explains. after the ohio town where it is based,it after the ohio town where it is based, it started in 2019 and words heralded by then us president donald trump does company that was bringing back manufacturing. since then it has struggled to make electric shocks, making only a handful. they also blame part of their failures on the taiwanese company foxconn, which says promised to invest more money and to collaborate on vehicle development plans. foxconn, which has already invested more than $50 million, said it was hoping to negotiate a solution to lordstown s financial woes. lordstown is not the only electric truck maker that has been suffering lately, river yealm, but by amazon, has made less cars, trucks, advance that it had expected. it is all a big come down from the electric truck frenzy that had wall street investors just a few years ago. that is samira hussain in new york. in other news t
tewari. we are learning that who the fighters say they will continue attacking vessels in the region of the red sea. this announcement comes after they launched a drone attack in yemen on a us commercial vessel of eden. the escalating tensions in the red sea have many analyst concerns that the impact of these attacks will drive up the cost of living. houthi. some companies had to take a tool, driving up costs or have decided to suspend shipment indefinitely. head of oil trading at the research firm describes what is at stake in the markets. in the markets. what is at stake is in the markets. what is at stake is that in the markets. what is at stake is that a in the markets. what is at stake is that a lot - in the markets. what is at stake is that a lot of - in the markets. what is at stake is that a lot of oil i in the markets. what is at stake is that a lot of oil to i stake is that a lot of oil to form the balance, moving from east to west, and that is a load of m
to the 6:00? judge jeanine: would love it. bret: good evening, good evening tonight we begin at the southern border as president biden and texas governor greg abbott old west shootout. given abbott until today to reopen a stretch of federal property which the state has taken over in order to deal with the border crisis. one specific allegation is getting a lot of attention. correspondent matt finn is live along the border in eagle pass, texas tonight. good evening, matt. good evening, bret. at the center of this federal dispute is actually this razor wire behind me. texas says it is deterring migrants and it is fighting to prevent the federal government from removing it. biden administration warning texas today is the deadline to allow federal border patrol back into this 2.5-mile stretch of city owned border property. texas put up razor wire around shelby park last week and kicked out biden s border agents. the texas attorney general tells fox news the state won t ba