hello and welcome if you re watching in the uk or around the world. the value of uk wages has fallen at the fastest rate since records began after taking into account the rising cost of living. household budgets are being squeezed by rising food, fuel and energy costs. average pay fell by 3% between april and june, when adjusted for inflation. that means prices are rising at an even faster rate, despite growth in regular pay excluding bonuses. meanwhile, job vacancies continued to increase, although the rate is slowing. the rise in the cost of living has prompted workers and unions across several industries to call for inflation matching pay rises with some, such as rail workers, going on strike. but the government claims the employment figures show the resilience of the uk economy. our business correspondent nina warhurst has more details on those uk job figures. average pay is growing faster than for 15 years but what is crucial at the moment, what everybody watching will
have a figure of 25%, a good 2% above what they said, ford said they would go over. they said their bottom line was 23%, so what more can you tell us about the deal? this has been a can you tell us about the deal? ti 3 has been a nightmare strike can you tell us about the deal? ti 1 has been a nightmare strike for ford and still aunties, and it rips the band aid off and 25% originally 40% was on the table, and knock it back to the factories and start building the electric vehicles, and this is a pivotal time and investors will like the structure of this deal given how bad it could have been. bad it could have been. these are lea bad it could have been. these are legacy car-makers bad it could have been. these are legacy car-makers and bad it could have been. these are legacy car-makers and yes - bad it could have been. these are legacy car-makers and yes there | bad it could have been. these are. legacy car-makers and yes there is bad it could have been. these are i le
talked about china as a challenge to the rules based order is something china bristles at and would like to see change. bristles at and would like to see change- bristles at and would like to see change. this visit comes when we see change. this visit comes when we see see change. this visit comes when we see the see change. this visit comes when we see the crisis - see change. this visit comes when we see the crisis in - see change. this visit comes i when we see the crisis in the middle east unfolding, what impact is that likely to have on relations? on relations? it s another wonderful on relations? it s another wonderful reason - on relations? it s another wonderful reason for - on relations? it s another wonderful reason for the | on relations? it s another. wonderful reason for the us on relations? it s another- wonderful reason for the us and china to stabilise their own bilateral relationship or at least, come up with a statement that shows they are managing
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 really