warning over the country s debt ceiling. this is the amount of money the us government is allowed to borrow to pay for pretty much everything they do. without an agreement to increase what the federal government can borrow, it could run out of money by earlyjune. at that point the federal government might not be able to make wage, welfare and other payments. our north america business correspondent michelle fleury is live in new york for us. we have been here before but once again, a stark warning that if nothing is done, it causes huge repercussions around the world. this is because as repercussions around the world. ti 3 is because as you say it is going to affect the jobs of government employees in the united states and have a knock on effect on the border economy, but then there is beyond the shores of the united states, the kind of ricochets it will have around the global financial system and that is why you have had this increasing drumbeat as we get closer to the kin
we begin in the us, where the treasury secretary janet yellen has sounded a stark warning over the country s debt ceiling. this is the amount of money the us government is allowed to borrow to pay for pretty much everything they do. speaking to abc, she says that if lawmakers fail to raise that ceiling the us could be left unable to pay its bills by the beginning ofjune. it is congress s job to do this. if they fail to do it, we will have an economic and financial catastrophe that will be of our own making and there is no action that president biden and the us treasury can take to prevent that catastrophe. russ mould is investment research director at aj bell. we have been here before. all of the same warnings that the us could tape off a cliff if it doesn t raise the debt ceiling and yet more warnings. yes, we have and i think the us debt ceiling has been raised 75 or 80 times in its history and we have had eight government shutdowns while a new debt ceiling has been wor
Anger and uncertainty had buyers annual meeting putting the german chemical giant on the defensive the legal troubles of its recent acquisition monsanto have shareholders up in arms. And u. S. First quarter Economic Growth beats all expectations but investors were missed in their response the financial correspondent tells us why. Also on the show japan has a notorious work till you drop Business Culture or the countrys Labor Shortage is now giving workers in one sector some leverage to challenge those expectations to give the details. And Student Peers in berlin thanks for joining us german chemical multinational buyer faces shareholders at the groups annual meeting friday in bonn and as expected it was a tense affair the companys share price has lost nearly half its value following last years takeover of u. S. Agra tech for months and in particular after two American Court cases linked that
companys Popular Weed Killer round up to cancer cases and thats put buyer in the crosshairs of
similar meetings with uk ministers. but of course, it s the political backdrop to all of this that makes it so contentious. rewind three or four years. during the protests in 2019, britain was a vocal supporter of the demonstrators. it was highly critical of china, its crackdown, the national security law then jump forwards here in 2023, and it s back in hong kong asking for investment. so a reflection of economic reality perhaps, and certainly a reflection of the uk government s softening stance towards china, which is all about trying to engage beijing rather than isolate it. the taliban has come to an agreement with china and pakistan to extend the belt and road infrastructure project to afghanistan. the deal could mean that billions of dollars could stream
the moneyjust run out temporarily. lovely to see you. thank you. it is worth pointing out that all of this is a negotiation is about money that has already been spent, not new spending. the taliban has come to an agreement with china and pakistan to extend the belt and road infrastructure project to afghanistan. the deal could mean that billions of dollars could stream into the sanctions hit country, to fund investment. the talks took place on saturday in pakistan. 0ur asia business reporter joao da silva explains. well, sadly, these trilateral talks between china, pakistan and afghanistan have turned into a real diplomatic coup for the taliban. we are talking about infrastructure investment potentially worth billions of dollars and that in a country that has been internationally isolated and facing a terrible economic and humanitarian crisis. china has long been investing in pakistan. we are talking about billions