and are earning more than ever before. let s start with oil prices, because they ve risen some 20% over the past three weeks. this time last week, prices surged after the oil cartel, opec +, decided it would reduce its combined output by 1.1 million barrels per day. crude prices climbed after the cartel s announcement, but later in the week they steadied, following the latest us and chinese economic data which suggested weaker post pandemic growth. so where are we headed? russ mould, investment research director at aj bell joins me now. i m very excited about this. you are down by the seaside in brighton but actually here today. on the bank holiday we dragged you in. what are your thoughts about oil right now? opec + is seen as this organisation by the white house is not especially helpful when it comes to our outlook for the global economy, cutting production and causing another spike in the price of oil which is very inflationary? it spike in the price of oil which is very
fears grow for a female iranian athlete who competed in a climbing competition without wearing a hijab her family say they ve good afternoon and welcome to bbc news, live from westminster. the prime minister will be meeting more backbenchers as she continues to try to shore up her leadership, a series of difficult headlines this morning following yesterday, following that interview as well, with our political editor chris mason in which she apologised for issues since she became prime ministerjust 41 days ago, earlier on today, it was business as usual, almost, with a cab neating, she and cabinet meeting, she and the new chancellor speaking at that meeting and the chancellor was setting out his plan, his thoughts on spending cuts which he said were on the way, he said that departments should agree those spending cuts by the end oaf week so a tight timetable there, and, they were meeting of course after he tore up most of that mini budget, the liz truss economic policy, t
of the so called godfathers of ai and elon musk. yes, he is coming as well. it s being hosted at the historic bletchley park as zoe kleinman reports. the secret work carried out at bletchley park once help the allies win world war ii. today the uk government will host a global summit to address a new kind of threat posed this time both superfast and supersmart computers. we both superfast and supersmart computers- computers. we can set up processes computers. we can set up processes to computers. we can set up processes to really - computers. we can set up processes to really delve l computers. we can set up i processes to really delve into what the risks actually are so we can put necessary guardrails while embracing the technology. artificial intelligence comes with lots of officers, from creating new medicines to revolutionising the way you work but it also has the potential to cause harm. the focus of the discussion today will be a cybersecurity and unstoppable gener
growth in that rose very sharply because of covid 19 and our interest rates are high thatis our interest rates are high that is putting clamps on consumers, corporations and governments in one of the biggest challenges going forward for all the inflationary central banks have that might put a lid on interest rates because government s own interest bills are going up which puts a clamp on their ability to give wealth and support. on their ability to give wealth and swoon- and support. lovely to see physically and support. lovely to see physically here and support. lovely to see physically here the - and support. lovely to see physically here the studio. i physically here the studio. more analysis on that later looking at the us inflation outlook in more detail. that is to come a little later on. let s get some of the day s other news. bytedance, which owns tiktok, has announced record profits of $25 billion for 2022. bytedance is currently the world s most valuable private company
awfully quick? well, there is awfull , awfully quick? well, there is awfully, obviously awfully quick? well, there is awfully, obviously a - awfully quick? well, there is awfully, obviously a lot - awfully quick? well, there is awfully, obviously a lot of. awfully quick? well, there is i awfully, obviously a lot of work awfully quick? well, there is - awfully, obviously a lot of work to do crunch the numbers and pull them together into a new coherent economic picture, so this is what we have heard, is that the government departments have been told and this morning the chancellor was telling them, the ministers? cabinet they had to go away and come back pretty quickly with numbers and ways of receiving money. he said saving money, he said government spend willing continue to rise, the problem, they have, is that the level of inflation felt by you and i in our sort of ordinary live, those rises in government spending are be low that, so will feel like cut, but also, there are is the