is future champions. there is fear for a business that also fosters kentucky pride. joy in a way of life. for many here in lexington course, racing isn't just in the industry. it's a life style. and anything that effects it affects them. at mill ridge farm, which bred kentucky, derby winters, barber row in st cents and raise the 3rd. giacomo teasley. bell is the 5th generation owner is very painful because we love the horse. we're all about the horse. when you drive around and when you walk the fields of the mill ridge and the other 500 farms in this community, you get a feel for the passion that we have at the track. and in the barnes of kentucky ending worries over a spike and equine fatalities is crucial to preserving a tradition. john henry and l g 0, lexington, kentucky. the

just a quick look at the main stories now i need is of the g 7 nations of agreed on new sanctions or space. i will stop rush year of technology, industrial equipment and services that support its who machine. their unconcern reports that the planning present wrote him is lensky will attend the summit in japan on sunday, early as the landscape did address the league in saudi arabia, calling for support to help protect new cranium. people, especially the muslim community, our states and were made lodge the neutral or the roches warn you. crane with many maintaining close ties to moscow, i am sure that we can all be united in saving people from the cages over us and prisons. unfortunately, and there are some in the world and here, and i'm you who torn a blind eye to those cages and illegal annexations. and i'm here so that

everyone can take an honest look no matter how hard they are. i've since tried to emphasize they are, must still be independence. and the arrow, the headlines, united nations refugee agency is saying moving a 1000000 people have been displaced by fighting and so down at least 250000 of them have been forced to flee the country. the army has been battling the permanent 2 rapids support forces for control. felt more than a month rescue as a northern if they have discovered and now the 40 in the flood waters bringing the total number of debt this week. to 14, the governor of the media romani region is meeting apartments of georgia, maloney on tuesday to discuss the mass of reconstruction efforts are going to be required to deal with this. and greece is private, is that carry out because mr. duncan's has been holding a final riley before the country's most on some general election for decades. but

the impulse from its attack is conservative. new democracy policy is leading. alexis, that price is left wing. so writs a movement this in the lead up to sunday's election. so those are the headlines as always more on our website, and i'll just eric don't com. county the cost is the program coming up next. looking at how the turkish of presidential run off might affect the economy. not to mention loans to suffer because behind the suffering millions of taxpayers. because those tax guys never go away. there's a new one bone every single day. i mentioned it is an urgent industrial necessity. somebody couldn't officially requesting the information of this important mechanism . recreate it together because i happen to live increase somehow. i'm a sooner i'm a bad person. that's machine on outages era. the

although i'm adrian said again this is counting the cost on i was a 0. you know, we can look at the world of business at economic this week, the outcome of the presidential, one off and tuck you will likely to, to minutes be can not make. few chips will present. other ones, policies went out when it be a reset, such as an orthodox approach. also this re coding work, a skill is to succeed and tomorrow's labor market. the, well, the comic for them says that maybe a quarter of a few patients will change in the next 5 years. plus consumers around the world are struggling with skyrocketing inflation, but 1st cost flight bookings on the rise of luxury brands are enjoying the bumper sales of that right when for richard typo on and so it keeps

presidential election, but the outcome was also a disappointment for the old possession, which was more united than ever a run off will take place on may 28th with the state of the economy front and center for votes as president. other one was criticized for reducing interest rates at a time of sky high inflation. while most of the central banks did the opposite to keep prices down, if the opposition of wins that could mean a re, think of his policies over consumption rate for reports. the sewing inflation and the plunging need may be the deciding factors for voters getting to is press denture, front off on may 28th. the uncertainty has already factored markets. the lead assigned to a record logan cus stolen last week. and stock stumbled. preston project type antwan's policies are widely blamed for fueling installation. the central banks raised interest rates to reduce prices to key could use rates,

but and to austin holes the lead of the 1st round. some analysts fall into his 20 years experience and which he oversaw wrap the deep norman quote and job creation. governments want to increase the employment because they believe that inflation or force is a problem. but if we look at to employment, this is success story. however, it wants unconventional economic policies have many watered, while campaigning, he repeated his months of increasing folder and investment locally production and exports to drive up to the b annual inflation. so to a 24 year high in october at 85.5 percent. and economists believe voters, nicole time on antwan's orthodox approach, at some point, something will have to give by something i mean either the interest rate or the

exchange rate, as if they insist on controlling the interest rates and the exchange rates. ultimately the exchange it with the employee is robin come on to promise to reinstate traditional economic policies and we gain the confidence of foreign investors. he also wants to, a mentor is relations with the rest pertaining to it. it's a nice to, i want to justice of the quality for to kids future. i want the conditions to change and for us to get worse, because uh right now we are heading towards, down for the 2 of the quakes devastated large parts of the country. southeast in february, the government estimates rebuilding cost at more than $103000000000.00. which means 2 kids academy will be a priority for whoever wins that final thoughts. let me pull some chevy for counting the cost. with joining us now from this time boys,

how come back by managing director of strategic advisory? so this is good to have you with us again, the heck on the presidential election was widely seen as a referendum on other ones handling of the economy. and yet he interested the head even though it's going to a 2nd round. what do you make about? yes ma'am of the story collection. a and we are into the run of round and president richard tell you about doing is uh, closer to uh when, but um, i would say that this was more about a security and uh nationalism uh that, uh the referendum for, uh, sorry, if i go on uh economy policies in the sense that yes, hi, installation. costs of leaving high cost of living. uh, they were only important, but uh, a visit i go on uh, turned that into uh a board for the future of the country. an easy time paying was all that. um you need to watch for me because this tablets you have to continue to all of your

features depends on our success. and that seems to have that that seems that resonated with the motors and they gave him his party and he's running alliance. a clear majority and department. okay, so it wasn't necessarily about the economy. the markets though, weren't happy to have a certain amount of of to him while off to the 1st round. is that set to continue through to around to yes. i think that's a great point. part of it had to do with the pulse there's um, just the shockingly. 2 mist predicting the outcome and always the they were predicting a clear mandate for the um, the challenge here. can i settle the, the 1st song that didn't materialize? so are they obviously they're not the pricing event of which will likely lead to either $1.00 waiting. so i think until they find a new market, the new normal that's normal,

the going forwards in the next 10 days until the 28th provided. we will have the bundles of both leaders will also need to talk about their economy policies and present either one has already hinted that she may bring in his full myers deputy ministers for deputy prime minister. i'll find us, ma'am. it seems checks which would signal to me that she is considering switching back to more orthodox policies. and i think he would need to do that because um, after the election, especially during the selection campaign, she had made a number of populous pledges, which he want me to carry on like doubling the minimum wage or pledging to rebuild all the uh, the homes in the boat, quick zones and so ok,

so. 5 5 it looks like if use the candidates, the much you will need to reconsider his other unusual economic policies today. so whoever comes to power off to the 2nd round, they will be equal make changes. what do you make of the, the all positions economic plans? will they be willing to push up interest rates on risk of recession? economies motto has been that on the, you know, really lowering the interest rates to be able to boost growth and employment. the position on the other hand, the reach has a former again, former prime minister of finance by john and, and his team of and they announced that they will lead to a take on interest, a heights. and right now, for example, the central bank policy rate is around 8 percent, but the market lending rates from the banks is low and 50 percent 5 c a.

so um i think that the market. 2 according to the positions economy team is already the price that in so he will lead to the ability to do it, have to be able to keep the fx. 2 sort of exchange rates in check, otherwise the could be looking get a major evaluation of the local courtesy focus did up against the other right after the elections. and even during this time, up until the run of the i see a sense of a bank entity on banks already to beating in the effects markets. so keep the list paper president had one set that has policies were meant to promote economic growth . he's been swimming against the tide of a market opinion, but is there any chance that that he could actually be right that the given long enough it's policies could pay off?

or as you say is thinking, i have to re think if he wins the 2nd round. i think he would need to re adjust this economy policies regardless because yes, he has to be in a sort of market testing his um and also those policies to be able to boost scroll. yes, turkey is protected. you wrote me down 3 percent this year according to the these latest projections. and that, that is significantly below that 546 percent, that turkey needs to a need some aid to be able to provide employment to young people. so obviously on top of it as a result of low interested policy, the also had a significant issue with the deleted before an exchange, the source alternate took a central event. and uh, for example, since the beginning of april, this year,

they sold about $14000000000.00 in the open market. so meaning that this is about sustainable. on top of it, turkey has a current account deficit that needs to be financed. and given the i told her to kind of make motto. as for president adeline's economy, policy team that did not materialize, the exports did not roll as expected. and the trade deficit uh, you know, on the other hand has become much worse. so which tells me that what they have is also seen above. and that's exactly why present ad on head seem to be for the 1st song. it hinted that she may bring in a season um, a bill credit like name su, check to take over after the elections. i kinda, it's always great to talk to you on terms of the cost money. thanks. indeed. i think it was actually, i mean you always the technology advances and innovation to tackle climate change. a changing our world, a rapid pace,

and that's forcing an evil ocean in the workforce to some jobs will be lost. all those requiring new skills will be gay and the world economic forum says labor market chun lies ahead, resulting in a new era of turbulence. it expects many, one in full occupations to change in the next 5 years. but w f has recently published a report based on surveys and pulled an 800 companies. it says global employers could create $69000000.00 new jobs by 2027 and remove $83000000.00 positions that will result in a loss of many $14000000.00 roles among the factors that will drive the labor market shift is artificial intelligence, which is developing foster above it is macro economic events including slow at economic growth, supply shortages and inflation. that will pose a bigger threat to jobs than a i. companies are rethinking the expertise that their employees need. however,

the w e. f ones, but many workers will lack the necessary skills to keep up, but the changes will dig more into that without guess shortly. but 1st, a new, so they buy the research group. the conference board concluded the u. s. employees, a more satisfied with the jobs. now than ever before, withhold and 62 percent of respondents reporting overall contentment. that's the highest level since the group started the components reports in 1987 spots. this agenda satisfaction gap. women remain less content for the jobs than men. the lowest level of satisfaction was recorded more than 13 years ago on the hills of what's now the, the great recession. joining us now from london is grace lawrence and she's the director of the inclusion initiative as an associate professor. but let's go to the comics question. good to have you with us on counting the call. so we've got 2 reports to disc. i'll see it. let's start with a one on job satisfaction. are you surprised by this? and what is it that's making american workers so happy or at least content with

that jobs, and we find similar levels of satisfaction elsewhere in the world. you know, i think that the, um, the company who created the survey that, that are, is stating that american workers are happier, their base who they will actually go out to are more likely to be professional workers or people who are at their desk. and i think that's a really good distinction to make because people who are professional workers more likely to be at their desk haven't, in the whole working lifetime habits much autonomy as they do now. you know, even companies who are insisting that people come back to the office, they resist you, but they come back for days. for example, i know black rock in the us, i'm just mandated 4 days. but we must remember that i thought the still more flexibility and autonomy than as compared to the past. so i think that this is being driven essentially by the court that we're looking at. but it is people who can work at home. and also the fact that they now have more work life balance, and essentially they have more control over their day to day. let's get onto

business transformation then we're place of conservation as we will take a few moments ago. technology, things like a i set to transform the workplace but, but as we were hearing it's macro economic factors that will play a far bigger role over the next few years. and in what way will they disrupt the workplace? yes, you know, i think that there isn't probably a macroeconomic factors that i could talk about today that won't have interaction with technology in the 4th industrial revolution. and i guess the extent to which it makes workers like easier or harder it's still up for to base. but i think, you know, a lot of countries are looking at aging workforces and particularly the, the, the baby boomers who are retiring and money countries mean that that's going to be skills gaps and such and such as health care and education installation. also, of course, is playing a role with upper pressure um on, on wages and the job marcus, meaning that some people are choosing not to take work in order to at home or employment. employment benefits benefits tend to be tend to be higher on the cost of living costs, as in general is, is,

is moving the job market. so i think these kind of micro economic trends that are long running like aging and the ones that are hitting us now like inflation, both type of potential to interact with technology. and at the moment, the interruption, technology is bringing out winners and losers and the job marcus up skilling. grace is on here. buzzword. what is it an hours and visit? i think it's pretty urgent. so i think a lot of where the gaps are emerging across the world, whether we're talking about developed countries and or least developing countries in data science or at least some data science capabilities. and unfortunately, i'm pretty much every country around the world. but the amount of data science that people are actually demanding doesn't quite make the supply. so when we think about of scaling, it kind of just be in the general sense that we want to give people more money, a more access to education. it needs to be that we're putting incentives in place to encourage people to go into the areas where the skilled gaps are. we're currently, we aren't getting enough people em choosing to study the world and you know, make for of grace. as the 6 in 10 workers will require training the for 2027,

but only half of them have access to adequate training opportunities or companies willing to foot the bill for investing in their employees. you know, for providing training and, and, and how come with you persuade them to do so given that it's vitally important. i think the answer is, well, yes and no. so i think and companies where they have a war on time. and so kind of high finance, big tech, they are providing ample training opportunities for their employees, both in terms of giving them executive education that comes into their size. adults and lots of access to very high quality education online. i think the problem are for people who are in small, medium enterprises, which is probably the most, the majority of people plus individuals who aren't in these companies where you don't have these kind of huge wage premiums. and in those companies as generally, being a reluctance to provide training because you worry you invest in a colleague and then they decide to leave and go to a go and go to a competitor. for example. i think that it's up to the government to think about

how they can either a fill that gap to their own skills policies for small medium enterprises and for companies where it isn't appealing to provide training or be where they put structures in place where they're requiring these, these companies and they're requiring these employers to provide the skills that employees need both to serve their, their current employer, but more than that so they can actually leave and get our opportunities elsewhere. specializing grace really got to talk to you or kind of have a cost for the effective date for being with us. thank you so much. thank you. by the time that makes a boy in ukraine, slow economic growth and inflation, the global economy is gone from one crisis to another. over the past 3 years, yet the luxury sector recovered quickly. off the cobit restrictions were lifted, reaching bullet, one trillion dollars in 2021, at a brew by up to 21 percent last year, beating all expectations. according to the consultancy from bain,

holidaymakers suspend big leading a boom in 1st class and business costs slight bookings. the international ed transportation association says the premium travel has recovered this year, foster. the total passenger traffic airlines are investing billions of dollars in the cabins to keep up with the demand. first class lounge is a being upgraded to many hotel rooms with double beds and book and showers for example. and you can even book a personal chef. sales of high end cause watches and hand bags of also been on the rise. francis luxury from elvia and h leads the way is the 1st company in europe to cross the $500000000000.00 market valuation threshold. it's filed up but not out of the took evil, most congest diesels, as it was, which is posted last month. while i'm a is the design of brand reported, but it's revenues rose by 23 percent in the 1st quarter of the joining us from. busy that is fail roberts,

who is the global industry manager of your room. one is an international with a focus on luxury goods play a good to have you with us on catching the call. so who's leading this boom? in 1st class, a business class flight bookings it companies or wealthy individuals. um, well, it's really kind of a mix of both ways. i obviously was still kind of very much at the stage. why and i still own pants, have demand in terms of travel, so losses when consumers that previously would have traveled, business costs are obviously picking up travel again, not very keen to get back on the road again and explore all these wonderful places around the world. so we're still seeing, you know, kind of demand from consumers, but there's also a lot of consumers that may, you know, have not been spending so much during the past, and it's 2 to 3 years. i can save a lot of cash and are really now very eager to kind of get out that and also really treat themselves. so kind of on the consumers side,

a mix of both and then put on the business side of the se, in corporate travel is not what it used to be because because i used to conducting a lot of major things um online using um z more. that platforms do conduct me things um, but obviously it has picked up. we don't think uh, business travel those to really ever which spends what it was now that there are other ways of communicating. and so it makes some frustrating but um yeah, still still a lot of well felt that as a lot of well, the trouble is out. that is indeed right. but, but is the money that airlines are investing currently in the, in the cabins and in the business lounges of that pause? money well spent? is this boom going to continue? well, we will continue growing, so we're predicting around the next $36.00 besides globally this year. um, obviously this must have been that we're seeing now has come from, you know,

0 for most of it. so naturally this is going to be a massive venue as their people start traveling again and travel with tends to some kind of kind of the mileage see, but naturally with progression as it's just the natural way of daytime, it will start slowing down. that size is we don't predicts that we will get back to the decline that we've seen, or a rise in sales of, of luxury, cars, watches, hand bags. and what is behind that, that the, the, the general boy and see if a luxury sector has a hold of them or what is it exactly what you were talking about that this the same apply. that's a luxury sector as a whole, as applies to the airline industry. and um, yeah, what kind of thing a mix we need across the board. so anything to do with experiences. so again, this is very much sort of on the back of being knocked down for so long. so people really keen to have anything that enrolls and actually experience whether or not as

dining, whether that's travel, whether that's anything to do with hospitality or anything that will involve an experience. and so that's where i was saying can be growth in luxury travel, extra county, assuming a kind of on the move kind of passed a lot for side with seeing a big grades in any, any kind of lots of the heritage problems for example. so anything that i will hold as value people buying lecture and it's kind of more as investments as opposed to just one of the pieces. people being very mindful about how they're spending money . i think this isn't gotten across the board. so i've been issues around sustainability really coming into play here. so on the one hand, it's about no difference the heritage. but also on the other hand, people are buying fluctuate goods with the idea that you know, they can either sell them on and even make a profit in some cases. or they can always use that as goods as

a means of income and actually read them about themselves. and are so many rental problems out there now. yeah, for you use, you say that to me, this is across the board. what, what do you, what do you mean by that? is there any particular market or country that is driving this denied, or is it really a global phenomena kind of overall in terms of those bigger trends? it's, it's global phenomenon was still seeing a lot of growth coming out to asia. so a little bit you have a pending to have 70 percent growth, but they will actually industry enrolled. i increase personal next rate, house, travel, etc. and most of that credit is going to come from lots in america, signee markets like brazil, and mexico and also asian pacific. it's, i know well though it's, the chinese will start typing again, which is it will the next week, hospitality or the travel rule. you know, is probably the biggest story out there at the moment. um, but similarly, so

a lot of growth within asia pacific where the chinese will probably couple more. um, at least the visuals mediums have, but also in the middle east that's, you know, big top at the moment. so traditional markets lives in denial, b, u a as rules but also um, saudi right there. we expect a lot of guys to come from that i don't advise on the back of the graphs as well. so honda was individuals, so it's been great to talk to you on counseling, the costs, manufacturing data being with us. thank you very much highway and that's all show for this week. if you'd like to comment on anything that you've said you can treat me. i'm at a fit again on twitter. try to use the hash tag h i c t c. what do you do or you control person like counting the cost of elders here. adult med is our email address. as always as talk people few online at alpha 0 dot com slash ctc. that takes you straight to a page that you'll find individual reports, links, even a time episodes fees a catch up. but that is it for this edition of counting the cost on

a tree instead of going to the whole team here. thanks for being with us. the news on al jazeera is next the the latest news as it breaks, used to expect it to be an extra 2 seconds. well, that's why has already started here with the 2 coverage for the whole. the members of the g. 9 gang are not far away. from here and they have been attacking this area from around the world. they haven't seen anything like this so far. since the conflict again, we get a sense of how enormous to scale of this humanitarian crisis it to the journey of almost 10 years in which to shake, hama, to ward for translation and international understanding has become the most important translation award from to the arabic language. in the world, the award announces that the nomination periods,

the 2023 starts from the 1st of march to the 31st of july. applications are accepted through the awards official website at w w, w dot h t, a dot q a the .