As much as 5 Billion each day according tojpmorgan analysts. Us retailers, automakers and other businesses now face Ballooning Freight rates ahead of the crucial festive shopping season. Large retailers have pulled forward imports of much of their Holiday Merchandise and made reservations with west Coast Ocean and Rail Carriers in hopes of avoiding any disruption. Lets speak to peter sand, chief analyst at xeneta, an Ocean Freight analytics firm. Hello to you. I know you have already calculated what this could mean if the Strike Action goes ahead, so do tell us more. A disruption like this always comes at a bad time for European Exporters into North America as well as North American exporters out of thE East Coast And Gulf coast. It will be impacted at first but this seems to be a first for almost 50 years, has the potential not only to lift Freight Rates higher due to the disruption from the strike, but certainly also to have wider implications, one or two months later down the road w
In about 90 minutes time well get the latest health check on the economy and everyone is asking the question will the numbers reveal we are officially out of recession . Well, most experts predict yes, and say we will see a smidgen of Growth Injanuary of 0. 2 . This would confirm the Bank Of Englands suggestion that the downturn is behind us. During the final three months of last year, the data showed the uk slipped into recession and inflation injanuary was at 4 so its still twice the Bank Of Englands target. Lets discuss all of this with azad zangana, Senior European Economist at schroders. Good morning to you. Are you with the majority believing today will give us a Growth Number . Today will give us a Growth Number . ~. ~ ~ number . We are. We think it could be number . We are. We think it could be even number . We are. We think it could be even a number . We are. We think it could be even a little number . We are. We think it could be even a little higherl could be even a little h
Traders were also encouraged by new Inflation Data forjanuary that showed the smallest increase in goods and Services Prices for three years. That has added to bets that the Federal Reserve is on track to start cutting Interest Rates injune. Our north America Business correspondent Erin Delmore Reports from new york. All three of the major us Stock Indexes closed out february with a bang. The Tech Heavy Nasdaq Hit an all time high and it is the first time we have been able to say that since november 2021. Another new high for the s p 500. Both indexers enjoyed their best february high for the s p 500. Both indexers enjoyed their best february since 2015. The Dowjones Industrial Average for its part was up as well. That makes february the fourth straight month in the green for wall street and the Leap Day Boost was helped by some new Inflation Data. Well, the market today is reacting to a favourable continuation of inflation coming down in a trend towards the Federal Reserve s target.
at their record high today. but will the european central bank signal lower borrowing costs are on the way? bag pipes skirl. paying the piper! as scots everywhere celebrate burns night, we ll be speaking to one whose playing has bagged a global following. yes we have bagpipes in this programme. we start in the us where air safety chiefs have cleared a path for boeing 737 max 9 jets to return to the skies after dozens were grounded when a cabin panel blew off mid flight, forcing an emergency landing. the federal aviation administration says the jets can fly again once approved inspections are done. but in a blow to boeing, the faa says it won t allow any ramp up in production of the 737 max until it s satisfied about the company s quality control. earlier on wednesday, boeing s chief executive faced senators in washington. our north america business correspondent erin delmore reports. the boss of boeing said he understood the seriousness of the safety questions facing the co
rates are expected to rise from 4.25% to 4.5% as the bank of england tries to rein in soaring inflation. inflation is still running at over 10% and at a as year high, largely driven by soaring food and energy prices. the bank rate is already at its highest level for m years, and further increases will pile more pain onto borrowers, particularly homeowners through higher mortgage rates. let s look ahead now with azad zangana, senior european economist & strategist, schroders. this deal we will get in half an hour but it feels done and are priced n. it hour but it feels done and are riced n. , hour but it feels done and are priced n- hour but it feels done and are ricedn. ,, , . ,. priced n. it is pretty much expected end has been priced n. it is pretty much expected end has been flagged priced n. it is pretty much expected end has been flagged for priced n. it is pretty much expected end has been flagged for some - priced n. it is pretty much expected | end has been fla