hello. i m helena lee. great to have you with us. we begin with some news from the war in ukraine. russia says its troops have fully captured the ukrainian city of bakhmut. kyiv has denied those claims, but if true, it could mark an end to the longest and bloodiest battle of the 15 month war. russia has been trying to take bakhmut since last year in a grinding war of attrition. and in the last few minutes, the russian news agency interfax has said president putin congratulated his troops for capturing the city. earlier, ukraine had said its units were still fighting in the city. this comes on the heels of the us agreement to allow ukrainian pilots to train in american made f16 jets. a move moscow had criticised. meanwhile, ukrainian president volodymyr zelensky has been on a whirlwind tour in an effort to drum up support and weapons for an expected counter offensive against russia. it s been a busy few hours for zelensky, touching down injapan on saturday for diplomatic talks
let s get down to business. an australian firm recharge industries has come to the rescue and bought the battery maker britishvolt out of administration. the deal is expected to be announced shortly. britishvolt had plans to build a £4 billion gigafactory near the port of blyth in northumberland, but it ran out of money and collapsed last month. its downfall was blamed on a lack of battery experience, unproven technology, and therefore no customers oi’ revenue. the new owner is another start up. recharge industries is owned and run by a new york based investment fund called scale facilitation. its australian chief executive, david collard, told our business editor simonjack why his company was different. what we re bringing, which is different to the prior britishvolt, is we re bringing validated technology. so that process has already started. us defence has also validated the technology, it s actually already supplied to the uk navy through a subcontractor over here.
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The consequences of investing in china. this notion either then going over there and saying that we want to continue the relationship is very conflicting and ambiguous. to give you an idea, since before donald trump became president, china s share of us import is down by 25%, and the first six months of this year, us imports from china are down dramatically from last year. china is becoming less of a trading pattern for the united states and it is notjust chips. is notjust chips. less of a trading artner is notjust chips. less of a trading partner but is notjust chips. less of a trading partner but also is notjust chips. less of a trading partner but also still is notjust chips. less of a trading partner but also still an is notjust chips. less of a trading j partner but also still an important one. you touched on the idea that america is going to beijing and saying we do not want to work with you on these things, we are going to stop exports on these things, but we still want