Its good to have you with us. If youve just joined its good to have you with us. If youve justjoined us, its good to have you with us. If youvejustjoined us, you are in time for the top business stories. Lets start here in the uk, where the Countrys Economy is facing a pingdemic where workers notified by the Nhs Track and Trace App have to self isolate due to being in contact with someone whos tested positive for covid. In the week ending on the 14th ofjuly, 600,000 people were sent alerts and asked to self isolate. Supply firms have been complaining they are struggling to keep supermarkets stocked with food. In response on sunday the department for environment, food and rural affairs said it has identified 500 sites for daily contact testing, and some 10,000 Supermarket Depot workers in england will be exempt from quarantine rules. This will include Forklift Drivers and dispatchers. However, Supermarket Workers are not included. Those who are exempt, if they have been pinged, they wi
let s start with china, because it s currently holding its annual two day national people s congress and has set out its economic forecast for the year. premier li keqiang told a packed audience in beijing on sunday, that the government hoped to achieve economic growth of around 5% in 2023. the figure is in line with most analyst predictions. last year, successive strict lockdowns slowed china s growth. official figures show the world s second largest economy grew by 3% last year, which was way below the government target of five and a half % and its slowest for decades. lets discuss this with louise loo, senior economist at oxford economics. there s widely expected to be a big shakeup in the team handling the economy. around 5%, it probably implies that growth as low as 4.5% is probably acceptable to the government and we do think that means the policy matters that we see will be a little bit more than what we expect last year. more than what we expect last ear. , , , ye
and winds of change. cloud computing, augmented reality, and 100km/h yachts! how sailgp hopes to get the video game generation on board. this we start with the cost of borrowing because it is on the rise again. in the next few hours the bank of england and the european central bank are both expected to increase their main interest rates by half a percentage point to their highest in m years as they battle to bring inflation under control. good news for savers of course, but piling more pressure on businesses and many people with loans and mortgages. for the bank of england, it would be the tenth rise in a row and would take the cost of borrowing to 4% its highest since 2008. on wednesday the us federal reserve announced a quarter percent increase a much smaller rise than in recent months. but its chair, jerome powell, warned that it would not be the last. as samira hussain in new york reports after in new york reports a year of aggressive rate increases after a year o
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
Too perturbed by the news from china about gdp target for this year. you are now up to date on all things business news and sport and i will see you soon. hello. after a grey weekend, more of you will see a little bit of sunshine in the days ahead, but it ll come at a price it s going to turn much colder out there and, for some, distinctly wintry. risk of some disruptive snowfall across north and east of scotland on monday and by tuesday, that extends into the north east of england, too. sudden reductions of visibility and the snow could be mounting up in areas. those at greatest risk marked here. up to 20cm of snow in the far north of scotland but there could be the odd flurry elsewhere. and it all begins now. this weather front is bringing about the change, opening the door to those arctic winds, pushing into northern scotland for the start of monday, frequent snow showers around. a dividing line is there across into northern ireland and northern parts of england first thing. rain