to written s labour shortage? pumped up prices, rising inflation raises fears of a cost of living crisis. plus, on borrowed time. the us must raises $28 trillion debt limit orface must raises $28 trillion debt limit or face the vaulting. defaulting. hello there. they start in the uk where government sources have told the bbc that there won t be any further relaxation or post brexit immigration rules despite calls from businesses facing staff shortages. on sunday the government set up temporary visas schemes for truck drivers and workers to limit disruption in the run up to christmas. in other businesses are being told to improve pay and conditions to improve pay and conditions to attract staff. emma simpson reports. picking, packing and matching online shopping. these big warehouses now pay a crucial role in the economy and labour shortages here as well. tens of thousands of workers are already needed for full time roles. if already needed for full-time roles. ., ~ , ., ro
hello there. we begin in the us where, in an extraordinary move to contain panic in the banking system, 11 of america s biggest financial institutions have agreed to a $30 billion bailout for first republic. shares in first republic plunged, as investors worry that it could be the next to fail. it follows the stunning collapse of two other specialist lenders, including silicon valley bank. samira hussain reports from new york. the collapse of two us banks have spooked investors who are now left wondering which bank could be the next to fail. that s been putting a ton of pressure on smaller regional banks. depositors at first republic have withdrawn billions of dollars and the regional banks share price has been cut in half. now the biggest of the american banks have stepped in, led by the likes ofjpmorgan and citigroup, 11 companies have agreed to make $30 billion of uninsured deposits in first republic. they have done this in the hope that it will be enough to shore up conf
we begin here in the uk, where the institute for fiscal studies is warning the chancellor big and painful spending cuts will be needed to put the country s finances on a sustainable path. the independent think tank predicts with a weaker economy and promised tax cuts, there will be a large shortfall in revenue. it calculates the government would have to spend £60 billion a year less by 2026 27. the treasury says its tax cuts and reforms would deliver sustainable funding for public services . more for public services . detail on that on october sist. joining me now is janet mui, head of market analysis, rbc brewin dolphin. they have quite a lot of detail as to why they believe the government will not have the money it needs to go ahead with plans? money it needs to go ahead with lans? ., ., ., plans? thanks for having me, first of all plans? thanks for having me, first of all before plans? thanks for having me, first of all before the - plans? thanks for having me, firs
hello and welcome to audiences in the uk and around the world. i m victoria fritz. we start here in the uk, with warnings that the country is set for the slowest growth of the g7 nations next year. for context, the uk is not alone, the imf says the global economy will shrink for the first time since 2020, why? partly the pandemic, partly the warn in ukraine, but the risk of recession is rising, and the uk is vulnerable. here are the numbers. the imf has revised down its growth for next year, from 1.2% to just 0.5%. significantly behind the us and europe at over i%, and the globalfigure of 2.9% growth in 2023. so why would the uk fare comparatively worse? well part of the problem is the uk s reliance on fossil fuels, making up 76% of our energy mix, compared tojust under 60% across the eu. let s listen to the imf s chief economist. the one thing that worries me more about the uk economy is that their inflation numbers seem to quite high, there are quite high gas prices and wat
Hello there. we begin in the us where, in an extraordinary move to contain panic in the banking system, 11 of america s biggest financial institutions have agreed to a $30 billion bailout for first republic. shares in first republic plunged, as investors worry that it could be the next to fail. it follows the stunning collapse of two other specialist lenders, including silicon valley bank. samira hussain reports from new york. the collapse of two us banks have spooked investors who are now left wondering which bank could be the next to fail. that s been putting a ton of pressure on smaller regional banks. depositors at first republic have withdrawn billions of dollars and the regional banks share price has been cut in half. now the biggest of the american banks have stepped in, led by the likes ofjpmorgan and citigroup, 11 companies have