let s start in the us, where there is growing footsteps. 0k. let s get started, shall we? the cameras do not want to play ball but i can walk back to this position. let s start in the us, where there is growing nervousness in financial markets over the possibility the us could default on its debt. a stand off in congress over plans to lift the federal debt ceiling which is currently at an eye watering $31.4 trillion has led to the cost of buying insurance against a us government default has moved to its highest level in more than a decade this month. so, later today, the republican speaker of the house kevin mccarthy will give a speech at the new york stock exchange, where he s expected to lay out the conditions republicans want democrats to agree to in exchange for movement on the debt ceiling. it sounds like a stand off. scott anderson is chief economist at bank of the west in san francisco. welcome to the programme. what will kevin mccarthy say? what is he going to p
Live nation and services. We allege that live nation has and services. We allege that live nation has illegally live nation has illegally monopolised markets across the live Concert Industry in the united live Concert Industry in the United States for too long. Live United States for too long. Live nation denies that it is a monopoly and says a breakup would not mean lower Ticket Prices or fees for fans. For more on prices or fees for fans. For more on the prices or fees for fans. For more on the story prices or fees for fans. For more on the story had prices or fees for fans. For more on the story had over to our website where we have more analysis on the story. Tesla boss has spoken out about the biden administrations tariffs on chinese electric vehicles. Elon musk says he is not in favour of the measures as they will already distort the track they will distort an already competitive market. The tariffs take effect on august one. Keep a close eye on the unrest in New Caledonia. The f
facing a flood of cheap chinese cars, europe s expected to raise tariffs on electric vehicles today. apple investors push its value up to record highs following its foray into the world of ai. we ll look ahead to the uk s latest economic data as april s gdp data is released. will it spur a bank of england rate cut? plus, supplies are squeezed for the makers of orange juice with prices going up due to extreme weather and disease. welcome to business today. we start in europe, where china is accused of drawing upon surplus capacity to dump electric vehicles at artificially low prices into the european market. policymakers in europe and the united states claim hefty state subsidies in china allow ev manufacturers to produce cars at prices that are impossible to compete with. in the us the biden administration raised its tariff on imports of chinese battery powered cars from 25% to 100%. later today, the european commission is expected to provisionally raise duties on ev s import
World. the reserve bank of australia will be holding its monthly meeting next week to decide on the cost of borrowing. market analyst peter maguire says if chevron strike i55ues maguire says if chevron strike issues are resolved they will have a big impact. issues are resolved they will have a big impact. you ve got 500 workers. have a big impact. you ve got 500 workers, two have a big impact. you ve got 500 workers, two major- have a big impact. you ve got| 500 workers, two major plans and they produce around 5% of global supply. and they produce around 5% of globalsupply. it s and they produce around 5% of global supply. it s eight major impact and certainly asia would be. feel it more than anywhere else in the world. i guess it highlights that wage demands are rising despite the dip in inflation that we start recently. what will be the impact on the central bank was back as far as central banks are concerned, we seeing hopefully with retail sales fairly strong. iii hopefully wi
From $475 a ton to $250 a ton over the past year. one as you say the fact this grain is not supposed to be staying in central europe, is meant to be shipped to africa and the middle east but there is a shortage of equipment to do that. secondly, globalsupply that. secondly, global supply have that. secondly, globalsupply have been strong, a bumper crop in eastern europe and russia last year. and also, the other issue you have is the deal that issue you have is the deal that is continuing where the black sea ports have been opened up so ukraine can get its grain out of the black sea and back onto the global market. find out of the black sea and back onto the global market. and the issue now is onto the global market. and the issue now is what onto the global market. and the issue now is what would - onto the global market. and the issue now is what would the i issue now is what would the european commission do next? they say it is unacceptable, this, you know, they will have to go