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Transcripts For BBCNEWS World Business Report 20240707



we start in the uk, where we now have a new finance minister after a night of high political drama. the former chancellor rishi sunak handed in his resignation on tuesday evening, citing a failure of leadership from the prime minister in his handling of the latest political scandal. this left the top finance job up in the airfor a few hours before nadim zahawi was appointed as the new chancellor of the exchequer. this comes at a critical time for the economy as the uk grapples with a cost of living crisis and rising inflation. this was acknowledged in rishi sunak s resignation letter. he said: now, this is being read by some as a defence for current high taxes which could mean that the new man in the job may have been brought in to change that. so what can we expect from the new chancellor? i m joined byjustin urquhart stewart founder of the investment platform regionally. justin, platform regionally. good morning to you. so, justin, good morning to you. so, let s tal ....

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Politics - HITS FM

Win McNamee/Getty Images(NEW YORK) A sewing machine manufacturer in Ohio froze employee wages, a New York City-based wheelchair producer forced layoffs at a U.S. supplier and a drone seller in Florida struggled to offer pay increases and hire workers.The companies were among hundreds who filed comments with the federal government over the negative consequences of tariffs put in place under then-President Donald Trump. Many of the businesses bemoaned sudden employment-related difficulties, government filings show.Drone Nerds, the Florida-based firm, criticized the tariffs in a filing as "a dead-weight loss for the economy."The challenges reflect findings in a series of studies that show the tariffs undertaken by Trump resulted in at best a neutral effect on U.S. employment and at worst a loss of hundreds of thousands of jobs, all the while raising prices for consumers.On the campaign trail, Trump has vowed to escalate the trade war initiated during his first term. Such polic ....

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