farms raise future champions. there is fear for a business there also fosters kentucky pride. joy that 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 affects it affects them. at mill ridge farm, which bred kentucky, derby winters, barber row in st sense and raised the 3rd giacomo feed lebell is the 5th generation owners 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

this is all just 0, and these are the top stories ukraine's president though the music lensky has arrived in japan for the g. 7 summit is currently meeting with the british prime minister wishes to knock any set to address caesar's. on sunday, on friday, g 7. lead is announced. new sanctions on russia, and the us agreed to support keyes access to advance 5 digits and training for its pilots. g 70 does have promised to support ukraine for as long as it takes and strength and disarmament and non proliferation efforts. there's also discussed b. james military's ation in the pacific time of change and the risks of onto official intelligence on to come out again is to jayden space has more from hiroshima on presidents. lensky is attendance. so yes, the political support of the g 7 members and strong woods coming to g 7 to release that communicate strong words coming in support of him. but i think he still wants

more, more financial support, more military support. he's got some important things here of this meeting. he's got them to come down on what they say, all loopholes in the sanctions. that roster is explosive sometimes using the countries he also has got i think an important decision decision on f. sixteens the by the administration. i was discussing for a long time and had divisions on the issue of these us made flights of jets going to ukraine, present biden's saying now that can happen. recovery efforts underway. northern italy, after what's being described as to was flooding in a century. at least 14 people have died. thousands of will have been forced to leave their homes, imagines because of battling to contain a wide fire in west and spain. hundreds of people have had to leave the home since the fire started on wednesday. local authorities are blaming austin for the size and poles are opening for greeks living abroad ahead of sundays,

parliamentary elections, prime minister to the atlas mix of talkies and has left his rival, alexis the prize have have the final release. tens of thousands of people have been demonstrating and savvy as capital belfry dr. to my shooting, that kills 18 people earlier this month. odessa has got it in front of parliament and calling for the resignation of top officials. those are the headlines next on algebra. it's counting the cost to stay with us. a meeting of mine truth is a bathroom feeling that i believe that the images have part in that buttons feel that i believe that the interpretation of images that also themselves part of that kind of more architect vitamin and photographer trevor pat glenn talked to every photograph is a photograph of environmental change when you're making images at the kind of hedge of what's possible that becomes very pronounced studio would be on script data analysis era.

the although i major instead of going to and this is counting the cost on that was a 0. you know, we can look at the world of business and economics this week. the outcome of the presidential one often check here, likely to to minutes be can nomic 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 skills to succeed and tomorrow's labor market. the world economic forum says that many of course of 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 pump of sales. what does that ride win for ritual typo?

don't want him. so he's presidential election, but the outcome was also a disappointment for the whole 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 old position wins, that could mean a re, think of his policies over consumption rate for reports of the sewing inflation and the plunging lead. may be the deciding factors for voters getting to is preston true 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 to strengths,

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 us to increase the employment because they believe that inflation or force is a problem. but if we look at to employment, this is a success story. however, it wants unconventional economic policies have many watered, while campaigning, he repeated his month. so of increase in foreign investment, local 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 both is nicole time on edwin's orthodox approach. at some point, something will have to give by something,

i mean either the interest rates or the exchange rate. this is they insist on controlling the interest rates and the exchange rates. ultimately, the exchange it with the employee is rather come on to columbus to reinstate traditional economic policies and pre gain the confidence of southern investors. he also wants to, a mentor is relations with the best pertaining to that. it's a nice to, i want to justice of the quality for the kids teacher, i want the conditions to change and for us to get to us because of right now we are heading towards, down for the 2 of the quakes devastated last boss 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 kind of bosh 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 age to the head even though it's going to a 2nd round. what do you make of that? yes, and what 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 security and uh, nationalism uh that, uh, the referendum for, uh, how you find the ones uh, economy policies in the sense that yes, hi, installation. costs of leaving high cost of living. uh they were all important. but uh, a visit i go on uh, turned that into uh a boat for the future of the country. an easy time pain 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 me that that seems that resonated with the motors and they gave him his party and he's moving alliance. a clear majority in departments. 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? yeah, i think that's a great point. part of it had to do with the posters, just the shockingly missed 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 are not the pricing event of which will likely lead to either $1.00 winning. so i think. 5 until they find the new market, the new normal that's normal,

the going forwards in the next 10 days until the 28th value. we will have the bundles of both leaders. bill. i also need to talk about their economy policies and present either one has already hinted that he may bring in his full myers deputy ministers per deputy prime minister assigned as memory seems checks, which would signal to me that he 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 quake zones and stuff. ok,

so. 5 5 it looks like if use the candidate to you 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 out interest rates on risk of recession? president, 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 then i was that they will lead to a take on interest heights. and right now, for example, the central bank policy rate is around 8 percent,

but the market lending rates from the banks is over 50 percent, 5 c a. so um, i think that the market uh, according to the positions uh 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 uh, sort of exchange rates in check, otherwise the, uh could be looking get a major evaluation of the local courtesy focus. yeah. against the other right after the elections and even during this time up until the run of the i see essential bank and state own banks already need to be named in the tax 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. i mean, is there any chance that that he could actually be right the, the given low 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 be a justice economy policies regardless because yes, he has to be in a sort of market testing. he's an orthodox policies to be able to boost grow. yes, turkey is projected to rome. it up 3 percent this year according to the these latest projections. and that, that is significantly below that 546 percent, that turkey needs to it needs to make 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 these started, so say you took a central event. and 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 give us the i to, to kind of make model. as for president adeline's economy, policy team that did not materialize, the exports did not grow 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 i go on head seem to be for the 1st song, it hinted that he 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 the terms of the company. 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. the w f has recently published a report based on surveys and pulled an 800 companies. it says global employers could create 69000000 new jobs by 2027 and remove 83000000 positions that will result in a loss of many 14000000 roles. among the factors that will drive the labor market shift is on sufficient intelligence which is developing fast 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 that many workers will lack the necessary skills to keep up with the changes. we'll dig more into that, but i 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, but the jobs, the 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 of beloved school to the comics christ good tiny with this on accounting 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, 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're in the system, but they come back for days. for example. i know black rock in the us, them just mandated for 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 quote that we're looking at, that 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 workplace conservation is 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? yeah, so 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 worker's life 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 and inflation. also, of course, is playing a role with upper pressure um on, on wages and the job marcus. meaning there's some people are choosing not to take work in order to sit 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 moving the job market. so i think these kind of micro economic trends that are long running like aging and the ones that are heading 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 hour urgent? is it? 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 meet 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 choosing to study the world and it'll make 4 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. are companies willing to foot the bill for investing in their employees, you know, for providing training and, and, and how come you persuade them to do so, given that it's vitally important, i think the answer is, well, yes and no. so i think in 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 go to talk to you because 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 going from one crisis to another. over the past 3 years, yet for luxury sector recovered quickly off the cobit restrictions were lifted, reaching bullet, one trillion dollars in 2021. and it grew by up to 21 percent last year, basing or 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 that cabinets 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 l. v 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 plus and 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 law that is failed. roberts,

who is the global industry manager of your romano 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 bands where they say, well this a 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, 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 demanded from accident consumers, but there's also a lot of consumers that may, you know, have not been spending so much during the past, and 2 to 3 years come saved 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 our business travel, those to really ever really depends 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 wealth out 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 airports money well spent? is this boom going to continue? well we, it will continue growing. so we're predicting around the next 36 percent 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 bu, as therapy pulls not traveling again and travel with tends to some kind of kind of the mileage see, but naturally with progression as it is just the natural way of data, it will start slowing down that size is we don't predicts that we will get back to the decline as we say, 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 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 or um yeah, what kind of thing a mix really across the board. so anything to do with the experiences. so again, this is very much 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 as soon as they have on the move. and i pass a lot for side with seeing a big grades in any, any kind of lots of the heritage problems, for example. so anything that will hold this value and people buying election day, 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 luxury 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 a little 9, please press on x ray task, travel, etc. and most of that price is going to come from lots in america, security markets like brazil, and mexico and also asian pacific. it's, i know well though, it's the chinese we'll start talking again, which is it? well, 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. why 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 july will be you a role. but it will say, i'm sorry, right there. we expect a lot of grade to come from that i don't advise on the back of the grants and well the honda was individual was for the spring great to talk to you on counting the cost manufacturing day for 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 counseling, the cost of the elders here, adult net is our email address. as always, as friends, people few online at elder 0 dot com slash ctc. that takes you straight to a page that you'll find individual reports, links, even a time episodes fee to 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 voters interfere turned out in large numbers for a presidential election that produced no clear winter. as presidents are drawn and challenger, co shut on the go have to have in over on, on may, 28th will succeed. you know, find the post for the prize. there's a lot of the story as a page on i'll just say a unique phone that processed by a palestinian artist using a symbol of national identity to create postage and passport stamps. but i was from

december nice clear to bill that comes flying anyway, sending a message of resistance about the arab israeli conflict outside of the process. we've come to palestine, palestine sundance, the stamp of defiance on out is even in a world where the news never ends. understanding what's behind the headlines is more important than ever. it takes listening to the people behind the news from the holes, the power to the people in the street, to the journalists reporting their story. it's that intimacy that makes every international story local at heart. i'm well, it could be that post of the take a daily news podcast powered by the global reportings to biologist here find us where ever you get your pod cast. the.