old, in nearly 60 years, some features on the line, it's changing to sand and settlement as filled in some parts of the wetlands which may lead to change and vegetation over time. the pilot itself is a testament to the resilience of nature. almost a casualty of development. it's now we much as of which logical site florence li, i'll just you some, some i'll it. so the is always there and these are the top stories of the us mexico border. 99000 people have made the crossing in just 24 hours. it's one of the highest res arrivals in months. the numbers have increased despite well forward season. both countries implementing strict to board and for some policies and install like new barriers in mexico. officials have used a range of tactics including shutting down railways and responds to people who died

off to fully go for all cause monro or apollo has more from mexico city. we should know that this is a crisis that's not only playing out along mexico's border with the united states. the situation seems just as dire along mexico southern border with guatemala, over the course of the last few days, we've seen very dramatic images of migrant. so trying to make their way into refugee shelters, their mexican immigration policy experts have been calling on the government of mexico to do more, to establish more processing centers for migrants. but there was simply too many people. and what we're seeing here is that there isn't a single reason or a single factor contributing to this latest surgeon migration that we're seeing along mexico's board with united states police and somebody a say a truck bomb is killed at least 18 people as an army check point in the central town are beloved when at least 40 others, including soldiers and civilians were injured. the death toll is expected to rise. in many, at least 34 people killed the explosion as an illegal fuel. definitely. it happened

at a stores fancy facility near the border with nigeria, which is a major oil producer. illegal fuel stations are coming along, his board is 2 babies were monument at moscow says there's been another attack on his black sea port of sylvester bolt in russian controlled crime in this comes a day off to you currently. and as i was talking to the headquarters of russia's black c fleet, and the city of authority is based in libya, say at least 90 full rescue work has been killed during recovery operations and deadly floods in don't know any of this week. more than 300 bodies were recovered in a single day. hi, francis calling on you are paying governments to do more of a migrants crossing the mediterranean. the head of the catholic church made the appeal during a large alto mess and most sites. there's a headlines, news continues, hey, on out 0 off the counting the cost and keep up on out 0. don't com to wait for the 19 agent games is out of the athletes from across asia,

a gathering in china to plan laid out for 481 gold medals. special coverage and analysis from $12023.00 on the head. a lot of money, i'm sorry, this is counting the cost on al jazeera, your weekly look at the wealth of business and economics. this week have interest rates. people may just central bank signal, a pause in the most aggressive monastery tightening policy in decades. where does not lead the bikes against installation? we'll say this week, the philippines is one of the fastest growing economies that agent but inflation

remains one of his biggest challenges. we hear from the nations sex reassignment plus, moving out of a job to celebrate to promotion. we find out why some work is quit just off to being rewarded for that performance. pandemic era supply bottlenecks. the full allows us to warn you, crane, and of course, and energy crisis. countries across the world have been hit by multiple crises that have sent the price of soaring food, electricity, even the internet to become more expensive. central banks globally rush to increase interest rates and then no more synchronize move in order to attain inflation. now off to move, in 18 months of the most aggressive monetary policy, timing and decades gotten this him, the message could be nearing its peak to the u. s. federal reserve has decided to hold interest rates in its latest meeting. the bank of england has also paused its

rate hype, solved us. the price slowed down, and prices. european central bank has also a signal to hold some monastery tightening up to hiking rates or rac hold. hi, a full percent. 9 major central bank raise rates by combined 3915 basis points in this cycle alone. japan is an outlaw at the global measure. so how do interest rates work, and how do they affect people? hakim rates makes it more expensive to borrow money. it discourages people from taking out loans. consumers then have less money to spend, which reduces demand as low as prices. interest rates affect everything from call loans to housing debt. first time home buyers with a mortgage, for example, could see their monthly payments. they increase if they rise. companies would then also have to pay more on the investment credit demand for workers could decrease. i'm salaries, go down almost. oh, economic sexes are affected by any slow down in consumer spending. it hubs,

economic growth and could to nations into recession. central banks often aim to raise rates to tame inflation, but without hurting their economies. to discuss all this on join now from london by friday at the mush. freya is the chief economist, a global data lombard. thank you so much for your time frame. i want to start with the us, where and this latest policy move, the fed decided to hold rate study. what are the signals specifically that the fed is looking for at what point will they know? they've got inflation on the control? well, if inflation comes down and stays down for a long period of time, and that will be a kind of a pretty good indicates of a i think that's, that's unlikely. um in the, in the car in full cost. so if you, if you have to sort of take issue with some part of the, of the economic projections that they put out, they've got a fault how foster braced. and they've previously expected. they've got unemployment a little bit less than they previously expected. and only

a top shop from where we are just now. and yet they've got this continuation of inflation slowing opiate gradually in the short term. i think there's enough full um for policy makers to kind of latch on to with regards to the trajectory of inflation to, to be confident that that's sort of doing the right thing and to continue with this kind of pausing um highest, highest along the rest of it but the, the, um, that the sniffing, peddling recently, the problem is that if you go gross economic price continuing act, or only marginally below trend, then the likelihood is that you see see, underlying inflation rate trends starting to re accelerate. and i actually think that's not a story for right now, but that might be something that's nice to kind of rear its head um towards into, into further into, into next year. for now i think that that kind of reasonably uncomfortable. okay, and let's, let's turn now to europe. the ac is also a signal to pause in raising interest rates. it's a different story, isn't it? between the u. s. and you can expand on that. yeah, it's very different. so what,

while the us is still living without legacy of, of kind of excessive stimulus, in hindsight with, with the kind of the wealth that created the wealth in the european case, especially if you take into account the kind of erosion may affect stove and inflation is gone, so there's no longer any cushion either in the, your area or in the u. k. and that means that the policy policy effect, so i'm going to feed through a lot more rapidly, particularly in the case of the u. k. y the, the structure of the mortgage market is kind of conducive to um, to the, the interest rate rises feeding through quite rapidly to uh, to the mortgage market. um, so for, so you are one could almost say that they've, they've already gone to fall. and i think what we're seeing in the inflation data coming through is evidence that the, you're europe in central bank and the bank of america. and we're fighting a very different type of inflation that was much more about kind of spillover effects from us stimulus. there's much more about kind of the cost through all the, the effects of the russian invasion of ukraine on, um, on,

on energy prices. and that type of inflation is the type of inflation that is, is kind of much more likely to sorts itself out than the type of inflation that the fed has been fighting to which the fed actually contributed by its kind of excessive stimulus alongside the, the excess of stimulus, fiscal stimulus in the us. okay. and briefly freya, this constant touring and throwing will, they wouldn't say, is this constant, and on se, se is never what's gonna happen next of interest rates. how does that uncertainty feed down to the mount on the street? yeah it's, it's very difficult. i mean, living in the you take, well there's, there's perhaps the most obvious impacts of that on, on mortgage rates from the, the u. k. fixes interest rates in, in maine, but actually in reality, it's significant of 2 or 2 years. 3 years, 5 years, so, so much more of the impact of, of higher interest rates and in the u. k. case the, the generations that we've seen in the, in the guilt market feeds through to, um,

the, the, the person on the street. we haven't really seen much of it, the impact of that. yeah. and the bank of england itself still thinks the, the, the, the bulk of the, the, the, the, the damage from the tightening of, of interest rates has still to fee through. so we're still probably to see that in the, in the u. k. case and it comes to will gradually in other places. okay. for us, stay with us because i want to come back to you because the 1st day i want to talk a little bit about oil prices, which on now on track to read a $100.00 a barrel for the 1st time this year. well, price is of course a critical as we know to price is of goods and services because they impact not only the price of fuel, but also of course transportation and production costs. and they talk the list of inflation risks at 60 percent wage growth is another one, a major contribution to inflation at 20 percent. and of course, trying as the coupling from global trade has also had an impact on inflation. so back to you for what price is such a headache all night for central bank is what is your full full full costs for

global oil prices and their impact on inflation? i'm not convinced that there's a great deal of staying power in the momentum that we're seeing with with them, with oil prices at the moment. i think there been a kind of conjunction of facts as the host uh, surprised and as a result of that, inventories have gotten quite low. if you that the main one that's kind of on the tilt about and, and somewhat surprising is the china is the model for oil. despite the very weak economic backdrop has been relatively, was in. and there's a lot of kind of micro reasons for that. with regards to what they're doing them in the petrochemical sector. i'm not sure that that continues. i'm also not sure the, the kind of the, the, the, the, the, the, the push from opec further with regards to the supply side is going to be sustainable. the one that's more of a question is, is what happens to russian output because the russian economy has been kind of surprisingly strongly that allows them to be a little bit more aggressive with what they do on,

on production. but looking at the kind of put them on bacterial and i think oil prices do, eventually we're about to that demand that backdrop. we're still expecting across you are a very weak outcome. and continuation of the slow down in, in the mon brace in the case of the us in terms of how the policy makers react to that. i think we're going to be much more back to the kind of the old playbook because of, um you don't worth responding to a supply side show everything in the eye of the installation stool. people are much more worried about those, those oil price shots feeding through into 2nd round effects. if you're an environment where inflation is coming down, the whole would be and perhaps it has told me that the discipline, so my pop for the hope would be that the, the central bank is don't react to the as aggressively against that cost to push type of inflation, but is the result of, of, of oil price gains because it destroys demand by itself. and briefly freya, uh we, one of the biggest concerns when it came to this aggressive interest rate,

hiking in, in by the us, europe, and elsewhere is recession. of course, is that still a real possibility or is it a different picture in the us of the okay. i think is different between the us and the in the u. k, the u. k. as i said, it's much more exposed to the rise of interest rates in the u. k. the new k position, the, the, the debt servicing cost. as a result of the rise and interest rates is much, much worse than elsewhere. about 2.5 percent of g d p in the us it's, it's much lower because of how long the fix is on. on mortgage rates, we do start to see credit called delinquencies. moving off a little bit, even in the u. s. case. and that could be a little bit of a leading indicator for kind of more stress to come. and we should know also the, the, the credit impulse or the change in the change in credit which is, is correlated with g p g growth is actually coincidently coordinates of g d, p growth and has tons negative recently as a result of the slow down in credit grace as, as the, the, the,

the hikes from interest rates be true and looking at the 2nd round effects of the, of the banking, many banking crisis that we saw on here in the year. so going to see rhetoric we, we should have continued slow down in the us, but we are in an unpleasant, unprecedented times with regards to that kind of stock of wealth being so far above trend and be sensitizing the economy to the effect. so of monetary policy for right, so very much waste and see really good to talk to you for it. the most chief economist of global data at the ts law. thank you for your time. thank you. the in 2022. the philippines recorded its strongest economic growth in move in 40 years. rising food and rice prices are a big challenge for the president's high inflation. his dentist said that marcus junior's approval ratings in april, but he remains fault. peter and monks his 1st year in office with improving business sentiments. out there was a summer been debate,

spoke to the secretary of finance benjamin york. know, he began by asking what is driving the nations growth thesis as a result of our investment in the previous administration as well. we were interrupted by the, the coffee crisis. so but, but right now we have, we have fully recovered and we are, we are on the, on a high to subject to the, again, before the call, the crisis we were growing defeated. this was charlie with around 6 percent on an average scale. but we did not spend so much on the, on infrastructure. so that became the, the focus of the previous administration, which we are continuing this time with a twist. we are involved being more private sector participation in the, in our decide to keep up with our high flying cl neighbors. so you talk about growth and obviously you go to still very high. but looking at the last quarter me,

if you look at quarter and quarter note, it says shrunk. for the 1st time and since 2011, i believe you're still at 4.2 percent growth. so are you still confident that you know those big targets like 8 percent and more than 7.5 percent of the chief a little by the end of the year and how are invest is going to see this this year. our target is 6 to 7 percent, so we still meet the lower end of the target 6 percent. all we have to do is grow by 6.6 percent in the 2nd half of the year. but we are on, on your question what, why are we so still optimistic that that we can rely on 6.5 to 8 percent for the next 5 years it's, it's because there are new growth a yes. my name was close in the previous administration. mining i lost, you know, mining though is this is a fast growing sector. so we, we open mining. i think the reason will be back up to the fund that we can. so,

and that's another sector. and as of course, the philippines is not affected too much by the global headwinds, because our growth is basically domestic domestic driven. 3 have a population of 115 a 1000000, mostly young, age and age is 25 and they consume a lot. so the, so we're back in that consumption, let's talk about another sector where present focus has a envisage that he will achieve. so sustainability as a by 5, but the next 5 years is agriculture. that's, that's right. but you do see that, you know, the current price is a price for instances where you have to take corrective measures, the shortages that we've seen for, i mean triggered etc. how, where is this heading to woods and what steps do you think in the next 5 years? you're going to be taking to make sure that this doesn't happen? that's, that's a good point. how, how do we call ch, are in the previous administration?

was practically not a factor in growth. it was seen in the procession 0 growth. and so the focus on that because it is very timely. and so the president himself has assumed the, the secretary issue for all of your culture because he's, he feels that that's really very important. so that's another growth sector. now this chuck increase in rice is a combination of non competitive behavior. some bad players in the, in the market and also because globally, the price of fertilizer has come out and the price of food in general has gone up as a result of the russian invasion of great. so some analysts believe that the if good targets continue to be met, philippines is going to be a trillion dollar economy in the next decade or so. are you sure that you're going to be able to achieve it? and if you were to list 4 or 5 areas which are going to help propel philippines to

that, what would they be? and are they actually realistic? howard, our part of our plan is to, to make the philippines an upper middle income country. by the end of the study. it's hard to talk about what happened software system. and that's, you know, depress that, that's a fix. don't fix, got 6 years. it's got to do everything he has to do within that period. so we'll, we'll keep investing in the essential infrastructure, take care of our people and make sure that they are, they, they, we, the malware, young population gets the night to education, to health care, make them productive workforce. and that's all we can do. okay. we can have problems beyond 19 of 2020, 22. believe you now where agriculture has become one of the fastest growing sectors as it's once thriving, natural gas industry is on the decline. economist save countries. tar lands have

a stablish farming is a major drive as far as future economic growth fence and monahan has more. cattle ranching is booming and central bolivia. it's part of the major ship to agriculture. the many hope will save the economy. because i'd be able to some of my every year we are exporting more and more livestock products like me to know. it has grown foss pulled over the last 15 years. and that is because we have been well positioned to do sort of the new emphasis on farming is going avoid left by the decline of natural gas hydrocarbon exports fuel olivia's economic miracle at the turn of the century. then present, even morales use it for social spending, lifted millions out of poverty, but with production, no plummeting, alternatives are needed. and then in the past, libya was a net energy ex, border gas was its main export product. nowadays, the entire sector is in decline. and we are increasingly importing diesel and

gasoline. but the farming boom may come at a cost, as far as in bolivia are being uprooted, faster than nearly anywhere else in the world. nearly 4000 square kilometers in 2022 alone. much of it to make room for ranches and sweeping farms last month, south american nations failed to agree on a common policy on ending deforestation by 2030 livia is believed to be one of the holdouts. the amazon rain forest plays a vital role in storing carbon, generating rain, full and combat thing. the effects of climate change deliveries, agricultural exports are finding hungry markets in china, and the u. it's relieving worries about the economy and the post pandemic era. even though the same time you create new concerns on how to manage the environmental pull out, been demanded for accounting, we cost conventional wisdom says rewarding employees for that performance increases that motivation and their commitment to the jobs. and companies of often use

promotions as a tool to retain x and fullness. but if you think that would necessarily prevent work is from resigning. thank you. again. a new study shows that recognition could actually back fire atp was such and such. you found 29 percent of workers quit the jobs within a month after that 1st promotion. the payroll provided estimates only 18 percent of employees would have left have a know been promoted. but then i realize job histories of more than 1200000 american work is between 20192022. that is during the global credit of ours, pandemic to from preston in the united kingdom. i'm joined now by adrian wrights. adrian is the direct to the institute for such into organizations what unemployment at the university of central blankenship. thank you so much for your time. adrian. we surprised by these findings will contrive where, cuz to resign a months off to getting a promotion. well firstly, i'd say that these findings were usually surprising. we most know that it's

a small section to provide them up every day. 4.5 percent of the way for them included within these findings. putting same save. what's driving work is to, to lead about the promotion. is many different boxes, 1st of all. and it may simply, it can be a case of promotion coming to solve it. see right there where people list those about their options and decided to lead alongside things like links and social media, laptop options and job to receive the coming up all the time. if people are engaged in the platform, it really does have an opportunity to see them, certainly right below impulsively impossible, impulsively for organizations to reflect some. and it's how different fans off the poles and individuals as they approach promotion and get promotion. so for example, is that a good training? is that adequate pay at all work is feeling supported and, and these sorts of things may prompt people to lead balances up,

if it securely and publish it for that and that personal circumstances. and do you think this also applies to just a certain type of work, a certain level of a hierarchy, they may be within the organization as well? does. is it, is this across the board? well, i think there's 2 ways announcement not question. i think there's a big and information from organizations like mackenzie saying, repeat what, i'm ok, so look for different types of work and i think around faulty design and develop nations 1st set of the workforce. a ok, there are options enough. perhaps maybe it's necessary, but it will save you right, looking at the organizations and the nice for the industries inside those boxes of the report findings to found that light pace with flows, there's a low paid industries and more prominent in terms of people moving on and that is the social high scale since your information technology. nice, those are things. so if, if the organization doesn't matter. but again, it is,

we're saying that our organizations supporting people with promotions, to, to provide adequate skills and training to provide that quote type. and it's hobby, surprising with low paid organizations, perhaps not getting not quite right. right. so promotion on its own. it's just not good enough. absolutely. yeah. think we have to look at sites. so that was this the organizations have in place. so for example, and one of the other benefits organizations put in place alongside promotion. as all science privacy isn't the best thing for people, often promoters, it's the competency in the current job and not necessarily competency the promotion in states of physics, medicine and is leaving. and so was, and diesel leads the concepts and saves the satisfaction of the websites and also it's not good for the organization. so, and organizations need to think about how jobs strategy, how long is your business strategy? and so make sure that people, when the optimize it assess, will dispose of it in that role. or you can just stay with me for

a moment because i want to tell the audience a little bit about what's happening with wages. a 36 percent pay rise was among the main demand spot auto workers who went on strike in the united states last week. unions of also cold for a 32 hour work week with no pay cuts and calls for sort of working hours. a part of the shift in workplace trends off to the global pandemic. many countries have conducted that full day work week trials last year, the biggest was in the united kingdom. let's go back to adrian now. so how much do working hours play into overall job satisfaction or working hours so basically play significant. i mean, there's real job satisfaction because we're kind of have to look at the real thoughts of the process of what makes good quality jobs or things like pain benefits, constructs work, life balance is 1000000, posting, job design and the nature of work. but also things like employee voice and health

and wellbeing and work life balance and the, and the time that people spending way is updates the key. usually impulse. and i'm always saying, hey, with the introduction of different technologies and those sorts of things is it is a call that people set to bring casually about how much the way to try and get the best of what life balance and effects the deal for employees which is with nice and things like that for the day we can be a win win space organizations on the employees we saw or of course, with the pin that make as the power return to the worker. is that still the case now? now a couple of years down the line. well, i think, and one of the things that is very important is about labels ability. and i think that and individuals do i still have opportunities. we do have quite a strong labor market scale, which means organizations have to be back to that attracts and talents and making sure the rates have not solid. and also making sure things are in place within the

organization. and that can be conventional the individuals that happy in the workforce in terms of sizing the power back. i think that there's always this in this, this situation between whether organizations have more power over the way or whether where it has more power. but i think the time that we do see a shift, and that shift is continuing, particularly when it comes to strong lead markets and people have a lot. so it's an opportunity. adrian writes direct to the institute for such into organizations. was that from the university central link to sure, thank you. thank you. and that is all sorry for this week. get in touch with us on x fool me known as switched out at money inside. do use the hash tag a j c. c. c. when he to call, she could jump to that email counting the cost the out is there at dot net is addressed as multi online at al serra dot com slash teaching student that will takes you straight to a page which has individual reports, links and taught episodes for you to catch up on that is that 5th edition of

counting a cost. i'm elaine site from the whole team. thanks for joining us. nice on out as they're coming up next. the the, the plague zone extends much deep into the mountains and we've watched a search and rescue efforts to get them the way despite the risk, we're seeing residents returning to their homes in search of their belongings. destruction here completely destroyed seats. minarette in cox here just goes to

show again the challenge of bringing heavy equipment into these areas. the army is deployed. it's how the company has to be at the sense of the way it's a freddy's, a gun assigned to find people to trumps. under the rubble of the desperate genies for a better lives. thousands of people have been traveling through mexico to enter the united states. and the numbers keep going, the funding wrong. com. this is out. is there a life from the whole? so coming up a massive truck bomb attack insightful some of the hills, at least 18 people on the desktop is expected to rise. the 1st come the if you me.