easing but it remained in easing but it remained committed to tackling rising prices and will take decisions in the new year carefully. from new york, here is michelle fleury. policy makers inside the us federal reserve believe interest rates are at or near their peak, even is going so far as to signal possible rate cuts next year as us inflation continues to receive from its 40 continues to receive from its a0 year high. during his press conference, the federick chair jerome powell suggested as much. ~ . , , ., much. we are seeing strong urowth much. we are seeing strong growth that _ much. we are seeing strong growth that appeared - much. we are seeing strong growth that appeared to - much. we are seeing strong growth that appeared to be | growth that appeared to be moderating. we are seeing a labour market that is coming back into balance by so many measures and we are seeing inflation making real progress. these are things we want to see. ., ' . . these are things we want to see, .., , see. the official spoke -- potentially _ see. the official spoke -- potentially mark - see. the official spoke -- potentially mark the - see. the official spoke -- potentially mark the end | see. the official spoke -- i potentially mark the end of see. the official spoke -- . potentially mark the end of a rate hike cycle that has included 11 increases to ease government prices. data you may recall this week showed a drop from its peak of 1.9% in

mid-2022 from its peak of 1.9% in mid—2022 tojust 3.1% from its peak of 1.9% in mid—2022 to just 3.1% in november. that is above the beds target of 2% and jerome bed's target of 2% and jerome powell cautioned the committee had not ruled out raising rates again in the future. still, wall street, all three markets finished higher and the dow jones industrial average jumped more than 500 points to a record close. this is the third time in a row after all that central bank decided against another rate hike. for investors are satisfied that the fed is done, the only question on their minds is when will the fed start cutting them? what happened in the us overnight? i talked to someone from t rowe price earlier and asked her what the fed's decision means the rest of the world. j decision means the rest of the world. ~ , , ., , world. i think this is a very aood world. i think this is a very good question _ world. i think this is a very good question on - world. i think this is a very good question on what - world. i think this is a very good question on what we| good question on what we have seen during this business cycle is that the fed and the us rates tend to lead other markets so that is one way we

can take signal from what is happening here there has been enough progress on inflation that makes the fed feel comfortable to cut interest rates next year stop i wonder if the next step is for other central banks such as the ecb and boe to get to this stage and boe to get to this stage and then we see easing and financial conditions in those markets, too. that is one part of the puzzle. the other part is that we know the us economy is that we know the us economy is a large economy. it imports a lot of goods and services and so a prolonged recovery here in the us would benefit global demand and exporting economies. a202a, what is the big challenge that you are anticipating? i challenge that you are anticipating?— challenge that you are anticipating? challenge that you are antici atin: ? ~ anticipating? i think given the market move _ anticipating? i think given the market move today, - anticipating? i think given the market move today, a - anticipating? i think given the market move today, a lot - anticipating? i think given the market move today, a lot of l anticipating? i think given the i market move today, a lot of the easing that may come in monetary policy has already priced in stop what worries me is that we haven't seen a lot of progress in services

inflation. average inflation is coming down. i worry that given how much financial conditions are easing, we may not sustain this progress on inflation over the medium but i don't think thatis the medium but i don't think that is a problem today for the fed. i think that is a problem for late next year. the electric _ for late next year. the electric vehicle - for late next year. the l electric vehicle company for late next year. the electric vehicle company tesla has recalled more than 2 million cars in the united states after a problem with discovered withers autopilot system. it covers nearly all cars company has manufactured in the country since 2012. including its most popular, the model y sport utility vehicle. so kleinman explains. allen tesla comes with a system that can help you drive, can do things like keep you in the right lane and make sure you are keeping up to speed with the traffic that is around you. it is called autopilot but despite its name it is not

supposed to take control. the safety reasons, a human driver has to be liable at all times but the problem is the us regulator said it didn't think autopilot was doing enough to stop pilot —— pilots from zoning out. tesla said it will update the software by doing things like issuing more visual warnings to try and encourage drivers to stay more alert. that software will go out digitally over the air so there are not going to have to be any cars that return to the showroom.— cars that return to the showroom. �*, , ., ., showroom. let's focus on hong kona showroom. let's focus on hong kong because _ showroom. let's focus on hong kong because there _ showroom. let's focus on hong kong because there are - showroom. let's focus on hong i kong because there are mounting signs that asian financial hub could be losing its clout. according to the world federation of exchanges, india's stock market value has overtaken hong kong's which is on track for a fourth year of declines. meanwhile, the amount of money raised through new listings in hong kong is at a decade low. major banks have also downsides their operations in the city —— downsized. and

the number of stock brokerages has also been shrinking. i was told what lies ahead. part has also been shrinking. i was told what lies ahead.- told what lies ahead. part of that decline _ told what lies ahead. part of that decline is _ told what lies ahead. part of that decline is cyclical - told what lies ahead. part of that decline is cyclical and l that decline is cyclical and this is because of a very strong dollar, a very high interest rates on the dollar and hong kong dollar means that any funding costs for hong kong, ipos, bond, of course much higher than elsewhere and thatis much higher than elsewhere and that is hong kong, when you compare hong kong to other major financial centres such as singapore. a cause for india, this story is different. india itself is about india as an opportunity and i would argue that that comparison is more about india and china and that is where you could also argue that it is where you could also argue thatitis is where you could also argue that it is not doing as well as india is. it is both the hong kong story and an india story. both in different directions. alicia, we know there is an

economic slowdown in china. leaders there must be worried about this happening in hong kong. what can be done to try and improve hong kong's prospects? and improve hong kong's prosoects?_ and improve hong kong's --rosects? , ., , prospects? things have been done because _ prospects? things have been done because if _ prospects? things have been done because if you - prospects? things have been done because if you recall. done because if you recall there was this big issue about basically listings of chinese companies in the us and hong kong had offered that platform toissue kong had offered that platform to issue those internal regulators that the us investors were asking from chinese companies was dubbed hong kong still remains important for the mainland to access other markets. that doesn't mean that everything happens in hong kong, in the hong kong stock market but what is very clear is that hong kong has become very much more mainland driven. the company �*s list lead that —— listed in hong kong are mostly from the companies issuing bonds are mostly from the mainland is of course hong kong is very dependent now on the mainland. as things are not doing well in the mainland, it cannot make, hong kong does suffer much more than before. in hong kong does suffer much more than before-— than before. in other unions makin:

than before. in other unions making headlands, - than before. in other unions making headlands, shares. than before. in other unions - making headlands, shares online marketplace etsy have fallen after it announced it would lay off 225 people. around 11% of its workforce. the company will pay as much as $30 million in financial charges from the move. it has been affected by weaker demand for handcrafted goods. now, shared often —— offers firm we work which was once $a0 billion has gone into administration but that doesn't mean the future it promised is over. some businesses in the uk out turning from smaller —— turning to smaller hubs in cities and towns —— away from cities and towns —— away from cities and towns —— away from cities and towns. we visited some of these bases. i5 cities and towns. we visited some of these bases. is a place like this represent _ some of these bases. is a place like this represent the - some of these bases. is a place like this represent the future i like this represent the future of office work?— of office work? this is a trendy co- _ of office work? this is a trendy co- working - of office work? this is a l trendy co- working space of office work? this is a - trendy co- working space was trendy co— working space was not the kind made popular by we work but it is not in the city centre, it is in the suburbs where commuters live in this case twickenham in southwest london. members pay to have a

hot desk, a fixed desk or a small office here. a new category where we you don't need to commute every day, you can go down to a local high street and have a really good day. we have a whole ground floor that is open and public. we have bakery sales, ceramics classes... a lot of the people i met here were office workers who were allowed to work from home but were either finding that lonely or too distracting. we live in quite a small apartment and i'm sharing the working space with my husband because he is also working hybrid so sometimes that could be a little bit fraught. it lets me focus without being interrupted by the washing machine going or doing various tasks in the house and also my husband. pl, tasks in the house and also my husband. �* , ., , husband. a number of these local community _ husband. a number of these local community co- - husband. a number of these | local community co- working local community co— working hubsis local community co— working hubs is on the rise, many are backed by local government funding. they are seen as a way

to regenerate high streets. this one in east dulwich southeast london has a restaurant and yoga and wellness classes open to the public. the entrepreneur behind it has another one in sutton to start —— just outside london and is planning an expansion. the fact that these co— working space isn't in the city centre, how does that affect you? we were to interested in delivering a local co— working space to allow people to not have to commute into city centres. and spend time amongst their neighbours and reinvest their neighbours and reinvest their money within their local economies. their money within their local economies-— their money within their local economies. , , ., economies. some employers are subsidising _ economies. some employers are subsidising their _ economies. some employers are subsidising their workers - economies. some employers are subsidising their workers to - subsidising their workers to come to places like these because they think they will be more productive than at home. but many employers also now simply want their workers back in the main office, so the commuter lifestyle might not be overjust commuter lifestyle might not be over just yet. commuter lifestyle might not be overjust yet. a reminder of our top story, the federal reserve has left rates unchanged in the last meeting

of the year and federal reserve chairman saying that they will need to be careful with interest rate cuts in the future. thanks for watching. bbc news was not bringing you different stories from across the uk. -- bbc different stories from across the uk. —— bbc news. bringing you different toys from across the uk. hundreds of miners took place in this much to mark the end of littles and collar rate. some fill the closure was a mistake. i some fill the closure was a mistake-— some fill the closure was a mistake. , , ., , mistake. i still believe it was -urel mistake. i still believe it was urel a mistake. i still believe it was purely a political _ mistake. i still believe it was purely a political motive - mistake. i still believe it was purely a political motive by l purely a political motive by the then government because the industry, they didn't like it. it was a huge employer in the staffordshire village of huntington. nearly 2000 miners worked there at a time. you huntington. nearly 2000 miners worked there at a time.- worked there at a time. you can see where _ worked there at a time. you can see where all— worked there at a time. you can see where all the gold - worked there at a time. you can see where all the gold had - worked there at a time. you can see where all the gold had been extracted... for see where all the gold had been extracted. . ._ extracted... for some it was more than — extracted... for some it was more than just _ extracted... for some it was more than just a _ extracted... for some it was more than just a job, - extracted... for some it was more than just a job, it - extracted... for some it was more than just a job, it was| extracted... for some it was| more than just a job, it was a second home. more than just a “ob, it was a second home._ more than just a “ob, it was a

second home. ~ , ., ., ., ., second home. when you go down a bit, ou second home. when you go down a bit. you feel _ second home. when you go down a bit, you feel comfortable. - bit, you feel comfortable. quite a lot of people would think, it is hard to believe it, i actually enjoyed it. lifelong friendships were made down the pit. ron and may still go for a drink every friday with other ex— miners. for more stories from across the uk, head to the bbc news website. hello and welcome to sportsday. aim julia with a catch up. tonight, what happened to cop28? -- hi, i tonight, what happened to cop28? -- hi, lam tonight, what happened to cop28? —— hi, iamjulia. that isa wrapforcop28, cop28? —— hi, iamjulia. that is a wrap for cop28, the un climate conference that was held in dubai this year. take a ways, all countries need to move away from using fossil fuels. renewable energy will triple by 2030 and governments need to make stronger commitments to cut carbon by

2025. some other stories now have an mark drakeford, the first minister of wales, has said he is quitting thejob. he will stand down in march after five years in the top post. welsh labour will have a leadership election to replace him. on tuesday the un general assembly voted to demand an immediate ceasefire in gaza other hundred 93 member states, 153 voted in favour, 23 didn't vote and just ten voted against. including the us and israel. the actor andre brouwer, star of brooklyn 99, has died at the age of 61. starting all eight seasons of the show. —— he starred in all eight seasons. and stranger things have been turned into a stage show. it will open in the west end on the 1ath of december. we will leave you with ten seconds of two—hour chasing. this here is been we

were spotted running along a motorway in new york. drivers corralled him onto the side of the road and one woman chased him down on foot. thankfully, though, he has now been reunited with his humans. you are all caught up now.

hello and welcome to sportsday. i'm marc edwards. here's what's coming up on the show. toon and out: newcastle's european journey is over. they crash out of the champions league with defeat at home to ac milan. the domino defection asjohn rahm joins. will more big starsjoin? we hearfrom liv golf chief exec greg norman, and he certainly thinks so. it will create a domino effect, more apples falling from the tree, no question about it. we hearfrom great britain's most successful female 0lympian on how she's helping female athletes overcome their struggles to get pregnant. hello and thanks for joining us on sportsday. newcastle's return to europe's top table for the first time

in 20 years is over. they are out of the champions league and out of europe altogether after losing at home to ac milan. with psg avoiding defeat at dortmund, it means kylian mbappe's superstar squad squeezes into the champions league knock—out stages with the germans. while ac milan drop into the europa league. john murray was at stjames's park on a night which started so brightly for newcastle and ended in desperate disapointment.