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BBCNEWS World July 6, 2024

programme. there will no be default. those were the words of president biden on thursday as he hailed what he called productive talks with his political rivals as the clock ticks on the country s finances. he is trying to avoid hitting the debt ceiling. the us government is set to hit its borrowing limit of $31.4 trillion next week, raising fears it could run out of money to pay its bills without a deal to increase the debt ceiling. from new york, michelle fleury reports. with just one week left until treasury officials say the us will run out of cash to pay its bills, the mood music from washington was upbeat that a deal can be done to avoid default. i want to be clear that the negotiations we re having with speaker mccarthy is about the outlines of what the budget will look like not about default. it s about competing visions for america. nothing will be resolved till we solve them all. we know where our differences lie. we worked well past midnight last night ....

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BBCNEWS World Business Report June 4, 2024 04:47:00

Cost for gold grows worse if interest rates on cash are rising. against that you have had these financial and political stress is rising. the socio economic distress of the pandemic and coming out of that. really, gold is acting very much as advertised, it is acting as a safe haven, as a hedge against what is happening in otherfinancial hedge against what is happening in other financial assets. thank you very much joining us. adrian ash, director of research at bullionvault. let s get some of the day s other news now. wall street giantjpmorgan chase is cutting jobs at the failed us lender first republic bank, after buying the firm this month. around 1,000 roles or 15% of first republic s workforce will be cut, the bbc understands. the boss of chinese search engine giant baidu robin li says it will very soon launch its own generative ai chatbot its equivalent of chatgpt known as as ernie 3.5. earlier this week mr li said he was waiting for government approval before launch ....

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BBCNEWS World Business Report June 4, 2024 04:43:00

This to start to get resolved and one has to always remember that there is also a shortage of skilled labour in a lot of areas and this sort of gives labour versus capital the sort of equation that is aligned at. the labour side of things at. the labour side of things a little bit more power than it has had over the last 20, 30 years. has had over the last 20, 30 ears. ., , ., has had over the last 20, 30 ears. .,, ., ,. ,, ., years. lots to discuss and it is an ongoing years. lots to discuss and it is an ongoing story - years. lots to discuss and it is an ongoing story here i years. lots to discuss and it is an ongoing story here in l years. lots to discuss and it i is an ongoing story here in the business needs. thank you for joining us. marc 0stwald, there. now we can talk about gold, i was ahead of myself there. let s turn to the price of gold now it s often seen by investors as a safe haven in unstable times, and a hedge against soaring inflation which erodes the value of cash ....

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