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tv   Talking Business  BBC News  August 13, 2022 3:30pm-4:01pm BST

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faultless blue skies and sunshine beating down, keeping the temperature rising day on day. some thicker cloud overnight returning to eastern scotland, the north—east of england, some mist and murk along the coasts, some drizzly rain for northern scotland, and then by the end of the night, some showers starting to push into northern ireland and the south—west of england. it is through sunday that we are anticipating these showers becoming increasingly lively. thundery for northern ireland and northern and western scotland and with the rain arriving, we start to see things becoming cooler here. some isolated showers possible further west, but very little in the way of significant rainfall i think for england and wales on sunday. it is monday that we start to see wetter conditions coming in here. hello. this is bbc news. i'm luxmy gopal and these are the headlines... writers and politicians condemn an attack on acclaimed author
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sir salman rushdie, who's now on a ventilator, after being stabbed on stage in the us state of new york. more extreme heat is expected in the southern half of the uk over the next two days. that, as experts also warn england's drought could last into the next year. travel disruption after thousands of train drivers from nine rail companies go on strike across the uk today. it's the latest walk—out in a row over pay and conditions. now on bbc news talking business with aaron heslehurst. hello, everybody. a very warm welcome to talking business weekly with me, aaron heslehurst. let's go and take a look at what's on the show. they're the most powerful group of shoppers in the world. but can the american consumer save the world from recession as gas prices, food prices and interest rates rise? i'm going to be taking the temperature of the american shopper and ask if it's still true that when america sneezes,
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the world catches a cold. i'm going to be discussing all of that with these two. there they are. steve odland, the boss of the american conference board, which collects the official data on consumer confidence, and elizabeth ananat, one of the economists who advise the obama white house. also on the show, its august peak holiday season, but with flight cancellations and holiday makers concerned about the bottom line, what's happening with the travel industry and are consumers still spending on holidays? i'm going to find out from glenn fogel, the big boss of the company that owns the global online travel giant booking.com.
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wherever you're watching from around the world. once again, a big hello and a warm welcome to the show. you know, while the emergence of a new middle class of millions of consumers across asia and africa will change they'll change how companies operate this century. the american shopper for now, remains the most powerful on the planet. the most recent numbers from the world bank shows the american consumer spent a massive $14 trillion in 2020. that's nearly three times that of the chinese, who spent a hefty $5.6 trillion. though part of the gap might be explained by china spending more of that pandemic year in lockdown. those lockdowns have continued in some of china's biggest cities, certainly hampering its post—pandemic recovery and pretty much halting much of its tourism and travel industry. but the united states, still the world's biggest economy, has big challenges of its own. rising energy and food prices, as well as interest rates to curb that inflation,
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are all adding to the cost of living. but in the plus column, the jobs market is strong. recent monthly reports showed a massive pick—up injob creation and also what people in those jobs are getting paid. presidentjoe biden, he was quick to seize on those numbers. today we received another outstanding jobs report. 528,000 jobs were added just last month to this country's employment. 528,000 jobs. we have now nearly doubled what we, almost ten millionjobs, almost ten millionjobs since i took office. that's the fastest job growth in history. but is a heated job market enough to keep american shoppers shopping? well, the american consumer confidence index, it's one of the key indicators that economists used to take the temperature of the american consumer and therefore the us economy. this is the last five years
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and you can see this here, that the american consumer sentiment is dropping sharply. it's nearly as low as when the pandemic took hold in 2020. that data is gathered by the business and research group, the conference board of america. it has more than 1000 companies as members. and i've been chatting with its big boss, steve aadland. —— steve 0dland. .. a real pleasure having you on the show. thanks for your time. and, steve, look, let'sjust get straight into it because your numbers are showing consumer confidence slipping almost as dramatically as when lockdowns started. so. so what's your take on the way consumers are feeling now? so. aaron, thanks for having me. you know, the the conference board's consumer confidence index has been declining now for three consecutive months. and there are two components to the index. the consumers talk about their current situation. how are they feeling about inflation and theirjobs right now and then how are they feeling
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about the future? and a few months ago, people started to be worried about the future. now, in the most recent reading, they're concerned about the present. what's driving it is inflation. inflation is at record levels. we haven't seen these kind of rates in over a0 years. and people are seeing that eat into their household income and what they're able to spend predominantly food and fuel. gas prices here are outrageous and americans aren't used to that. so you see consumer confidence declining. the reason this is important is because consumer spending makes up about 70% of the us gdp. so it's a big deal when consumers are worried and when they're thinking about ratcheting back their spending. but, steve, in the us you've got to you've got a pretty firm job market. i mean, we'vejust seen those the recent numbers. so how does that play into to this picture? well, you know, it's a really interesting situation. every recession post—world war two has been with big job declines. and so you see the us
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federal reserve raising interest rates to try to diminish inflation and adjust. people are worried about that, by the way, because the fed has never engineered a soft landing. and so it's really and it's really hard. it's not critical. it's not to be critical of them, but it's hard to do. and so people are saying, yeah, it's going there's going to be a recession because it's impossible to engineer a soft landing. so you see that happening at the same time that the us jobs market is holding up, which is counterintuitive. you normally see jobs coming down in this kind of a setting. so, you know, it's a very strange situation, but it does give confidence to the federal reserve that they can be more aggressive because we are at full employment. and of course, you mentioned inflation. we can't get away from it. these price rises, i mean, it's going to hurt consumer sentiment. well, see, this is the deal because you see real income coming down, but its food and it's fuel. now, these are typically
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when inflation hits, you don't see as much in these two areas. but right now its food and it's fuel and that's over half of the inflation right there. these are the two issues that hit every household. and so the poorest households are the ones that are disproportionately affected to this, and that's another worry through it. so people are ratcheting back all of their plans related to big purchases, automobile purchases, appliance purchases, capital goods. but it is also rippling back then through businesses. and so our latest ceo confidence index has predicted a recession. and when the us ceos get worried about recession, they start ratcheting back capital investment, hiring plans and everything else. and this becomes a concern because they can actually create a recession by ratcheting back their spending. so all of this is coming through in sort of a circular fashion here to to our to our projection that there will be
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a recession in the us by the end of 2022 and carried over into 2023. but you've said that businesses are more well, they're not worried about consumers, but more the fed, america's central bank. what do you mean by that? in the latest ceo confidence surveys, what we've seen is that ceos are projecting a recession. and the reason is not because of the consumer, but because of the fed. as the fed raises interest rates, they. then drive productivity down, they drive investment down and so forth. and so the fed is worried about this 2% inflation and they've been very forthcoming about that, that their target is 2%. and they would rather that the gdp actually takes a decline for a period of time or that they hit the labor market negatively in order to get the inflation in place. so that's their priority. and so everything else is secondary. so ceos are saying, therefore, its not going to be a soft landing,
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it will in fact be a recession as a result. and now that i know that it's going to be a recession as a ceo, i must then bulletproof my business against that, which means that i'm going to ratchet back capital spending and so forth, and i'm going to increase my liquidity. and that's what then helps to create this spin in a recession and actually can make it worse. and as we know, steve, is it still true that when america sneezes, the world gets a cold? well, we sit here, so how do we know? but look, i think that the american economy is still, what, 25% of the global economy. china is concerning to the economy right now it's an important part of the economy. it's their worlds manufacturing site and supply chain
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centre. we have seen gdp flatten out and we have relied on china as a global economic engine and that has come down. part of it has been because of zero covid strategy where there have been locked down is even in major cities like shanghai and that has hit their economy. but it has also hit their economy. but it has also hit their economy. but it has also hit their consumer confidence index and the chinese consumer is the least confident that they have been since we have measured it, so they are really pessimistic about the chinese economy. and i have been wondering... is it still true that when america sneezes the world gets a cold? i think the american economy is 25% of the global economy. china now is number two. it's a it's a huge portion. so it's impossible for the us
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economy not to have a ripple effect, particularly with the interconnectedness of the global economy and the global supply chains, the trading that's going on with not only the developed world but also the developing world. so we're all interconnected today. and so when the big economies have trouble or go into a decline, it does ripple over. what are the businesses for measures for these businesses? how are you adjusting strategy?— adjusting strategy? ceos have an obliuation adjusting strategy? ceos have an obligation not _ adjusting strategy? ceos have an obligation not to _ adjusting strategy? ceos have an obligation not to overreact - adjusting strategy? ceos have an obligation not to overreact in - adjusting strategy? ceos have an obligation not to overreact in the | obligation not to overreact in the sense that they can create a recession, they can hurt people through their actions if they are too aggressive. 0n the other hand, they have multi stakeholders, customers and employers and owners communities and they have to balance all of that and so they do need to make sure that they take care of the long—term health that whatever is coming and you don't know for sure what the future holds, but whatever is coming that the, they have
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adequately adjusted in strategy to get through it. that requires liquidity and other cash position are strong. that requires that they have the right strategy to work through whatever your product or service is to take care of your customers through this period of time. and that is so that they don't impact their employees with lay—offs and so forth, that they take care of the employees that they have, that they don't overreact to inflation and overcompensate that then drives lay—offs. these are all the strategies of ceos need to balance through this period such that they come out the other end in a stronger position so that they can continue to balance all of the stakeholders. steve, a real pleasure having you on the show. thanks for your time. we'll talk to you soon. great to be with you. thank you. so the american consumer, it's clearly not a single thing or idea. women are by far the largest consumer group spending more dollars than men. well, i caught up with a senior economist to the president's council
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of economic advisers under president obama. she's also the professor of women and economics at barnard college, columbia university. elizabeth arnnat, a real pleasure having you on my show. thanks for your time. and elizabeth, let's start with this, because recently we've seen president biden hail those strong jobs numbers. but are those job numbers? is that across the board? i mean, the economy, the job numbers are improving. but in terms of who's being helped most, those numbers are up above the pre—recession above the pre—pandemic trend line for professional services and a lot of high wage labour. but they're still well below the number ofjobs that we had in the low wage sector in, for example, leisure and hospitality, which were some of the worst hit jobs. those are still about 7% below where they were before the pandemic started. and i'm wondering, elizabeth, how is job insecurity impacting on consumer confidence?
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the us low wage labour market is really characterized by a lot of what in the uk, i believe you call zero—hours contracts, right? so a lot of folks who don't have predictable work schedules, work hours, they are sent home early or not called in at all if if demand is slow. and so they can't predict how much they're going to earn, which creates a lot of uncertainty and and leads to particularly when people worry about rising prices, the possibility of a recession, if the fed overshoots, they're very concerned about their ability to make it through that because they can't rely on a steady paycheque. and these wages are generally low enough that it's very hard to save for a rainy day. so they don't have much margin to do much besides basically enter a financial crisis, like not having enough food to feed their kids, having to stop paying rent
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and possibly enter a sort of an eviction spiral that can lead to a really bad financial crisis. so there's a lot of anxiety among folks at the low end of the. of the labour market that folks at the higher end who are seeing these strong jobs numbers and also have a lot of savings buffer and a lot of room to cut back on extras don't experience. and elizabeth, let me ask you this. let's talk about women, because i'm wondering what all of this means for women. they are the biggest consumer group, right? absolutely. you know, they had a lot of families as sole sole owners. and they also make a lot of the decisions in married couples, families. so. so to a large extent, to the consumer confidence is really about women's confidence. well, just how how is that confidence? you know, there are a lot of headwinds. women are more concentrated in lower wage jobs. they're more concentrated in these unstable jobs, in services. they are more focused on taking care of children. and so we know a lot of them have not been able to fully reenter
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the market because of the unstable child care that they're facing. there's a lot less child care than there was prior to the pandemic. therefore, they can't confidently accept a job if they are working and their child care shuts down. a lot of these folks don't get paid, and then that, again, can lead to that sort of spiral of disaster that that people are worried about that is affecting their their confidence. so on that, elizabeth, no doubt you're suggesting that more policies to support childcare? well, it's definitely needed, absolutely. we haven't had the political will to provide the kind of child care infrastructure in the united states that you see in most other rich countries. and that leaves families to cobble it together by themselves, which means it's a lot less stable, a lot more likely to fall apart at the latest crisis and lead to a spiraling crisis. and that is definitely undermining people's confidence in the future. and, elizabeth, let me end on this, because if you are advising the white house today, what would you recommend? so i would recommend investments
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in child care and in supporting families through the expanded child tax credit that we had last year, which gives families some buffer against inflation and rising prices for food and fuel, and also allows them to invest in child care, in car repairs, things like that, that help them sustain their work. if they have reliable child care and some money coming in every month, they can make the investments that allow them to be long term in the labour market, which can ease wages that employers have to pay in order to attract workers, thereby preventing an inflationary spiral and improving the strength of the economy. well, on that note, elizabeth arnanat, thank you so much. a real pleasure talking to you. and i'd love to check in with you soon. thanks so much for having me. a pleasure. after two years of the pandemic and isolation for separation, who can
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blame anyone for wanting to get away from it all? and if your booking online, as well as trusting whichever company you choose with your holidays, you are handing over large amounts of personal data and when that is combined with all the other customers information, we can get a pretty good picture of what is going on in the travel industry and to some extent, in the wider economy. so i caught up with the big boss of booking holdings, the parent company of booking to come to see what the post—pandemic picture look like. glenn fogel, a pleasure having you on the show. i mentioned booking nakamba come bet you a lot busier than that. you also run spline, rental cars dot—com, kayak and open table and let me start with this, glenn, because this week's the show is on the american consumer. are you seeing, in general, confidence and the american consumer?— seeing, in general, confidence and the american consumer? thanks for havin: the american consumer? thanks for having me- — the american consumer? thanks for having me- it's _ the american consumer? thanks for having me. it's interesting - the american consumer? thanks for having me. it's interesting becausel having me. it's interesting because we hear_ having me. it's interesting because we hear a _ having me. it's interesting because we hear a lot— having me. it's interesting because we hear a lot of— having me. it's interesting because we hear a lot of concerns _ having me. it's interesting because we hear a lot of concerns about - having me. it's interesting because we hear a lot of concerns about the economy— we hear a lot of concerns about the economy and — we hear a lot of concerns about the economy and inflation _ we hear a lot of concerns about the economy and inflation and - we hear a lot of concerns about the| economy and inflation and recession and all_ economy and inflation and recession and all these — economy and inflation and recession and all these things _
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economy and inflation and recession and all these things but— economy and inflation and recession and all these things but if— economy and inflation and recession and all these things but if you - economy and inflation and recession and all these things but if you go - and all these things but if you go out on _ and all these things but if you go out on the — and all these things but if you go out on the street, _ and all these things but if you go out on the street, you _ and all these things but if you go out on the street, you see - and all these things but if you go out on the street, you see that l out on the street, you see that people — out on the street, you see that people are _ out on the street, you see that people are going _ out on the street, you see that people are going to _ out on the street, you see that. people are going to restaurants, out on the street, you see that - people are going to restaurants, or if you _ people are going to restaurants, or if you look— people are going to restaurants, or if you look at — people are going to restaurants, or if you look at the _ people are going to restaurants, or if you look at the number— people are going to restaurants, or if you look at the number of- people are going to restaurants, orj if you look at the number of people travelling _ if you look at the number of people travelling right _ if you look at the number of people travelling right now— if you look at the number of people travelling right now in— if you look at the number of people travelling right now in the - if you look at the number of people travelling right now in the states i travelling right now in the states it's a _ travelling right now in the states it's a lot — travelling right now in the states it's a lot of— travelling right now in the states it's a lot of people _ travelling right now in the states it's a lot of people and _ travelling right now in the states it's a lot of people and we - travelling right now in the states i it's a lot of people and we enhanced the second — it's a lot of people and we enhanced the second quarter— it's a lot of people and we enhanced the second quarter numbers- it's a lot of people and we enhanced the second quarter numbers and - it's a lot of people and we enhanced. the second quarter numbers and they were very— the second quarter numbers and they were very good — the second quarter numbers and they were very good and _ the second quarter numbers and they were very good and we _ the second quarter numbers and they were very good and we talked - the second quarter numbers and they were very good and we talked about i were very good and we talked about record _ were very good and we talked about record numbers _ were very good and we talked about record numbers and _ were very good and we talked about record numbers and we _ were very good and we talked about record numbers and we talked - were very good and we talked about| record numbers and we talked about bigger— record numbers and we talked about bigger than— record numbers and we talked about bigger than we — record numbers and we talked about bigger than we were _ record numbers and we talked about bigger than we were in _ record numbers and we talked about bigger than we were in 2019 - record numbers and we talked about bigger than we were in 2019 so - record numbers and we talked about| bigger than we were in 2019 so there is still— bigger than we were in 2019 so there is still a _ bigger than we were in 2019 so there is still a lot— bigger than we were in 2019 so there is still a lot of— bigger than we were in 2019 so there is still a lot of good _ bigger than we were in 2019 so there is still a lot of good feelings - is still a lot of good feelings about— is still a lot of good feelings about going _ is still a lot of good feelings about going out _ is still a lot of good feelings about going out and - is still a lot of good feelingsl about going out and enjoying is still a lot of good feelings - about going out and enjoying life i’i l ht about going out and enjoying life right now — so yeah, there could be some concern about the future, but right now people are feeling pretty good. and because we've seen this huge surge in demand to to travel, there are problems in some cases but significant _ there are problems in some cases but significant amount— there are problems in some cases but significant amount of— there are problems in some cases but significant amount of talk— there are problems in some cases but significant amount of talk about - there are problems in some cases but significant amount of talk about all. significant amount of talk about all the terrible — significant amount of talk about all the terrible issues _ significant amount of talk about all the terrible issues and _ significant amount of talk about all the terrible issues and travel -
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significant amount of talk about all the terrible issues and travel and l the terrible issues and travel and how much— the terrible issues and travel and how much did _ the terrible issues and travel and how much did that _ the terrible issues and travel and how much did that inhibit- the terrible issues and travel and how much did that inhibit travel, | how much did that inhibit travel, the absolute _ how much did that inhibit travel, the absolute number— how much did that inhibit travel, the absolute number of- how much did that inhibit travel, - the absolute number of cancellations is still— the absolute number of cancellations is still a _ the absolute number of cancellations is still a very. — the absolute number of cancellations is still a very, very— the absolute number of cancellations is still a very, very tiny— the absolute number of cancellations is still a very, very tiny amount - the absolute number of cancellations is still a very, very tiny amount of. is still a very, very tiny amount of cancellations. _ is still a very, very tiny amount of cancellations. 0r— is still a very, very tiny amount of cancellations. or if _ is still a very, very tiny amount of cancellations. or if somebody- is still a very, very tiny amount of l cancellations. or if somebody says, there _ cancellations. or if somebody says, there is— cancellations. or if somebody says, there is terrible _ cancellations. or if somebody says, there is terrible chaos _ cancellations. or if somebody says, there is terrible chaos of _ cancellations. or if somebody says, there is terrible chaos of the - there is terrible chaos of the airports _ there is terrible chaos of the airports. there _ there is terrible chaos of the airports. there have - there is terrible chaos of the airports. there have been. there is terrible chaos of the . airports. there have been some airports — airports. there have been some airports absolutely _ airports. there have been some airports absolutely that - airports. there have been some airports absolutely that have . airports. there have been somel airports absolutely that have had airports. there have been some i airports absolutely that have had a shortage _ airports absolutely that have had a shortage of— airports absolutely that have had a shortage of workers _ airports absolutely that have had a shortage of workers and _ airports absolutely that have had a shortage of workers and there - airports absolutely that have had a | shortage of workers and there have been _ shortage of workers and there have been very— shortage of workers and there have been very long _ shortage of workers and there have been very long lines _ shortage of workers and there have been very long lines and _ shortage of workers and there have been very long lines and that's - been very long lines and that's unfortunate. _ been very long lines and that's unfortunate, but— been very long lines and that's unfortunate, but again, - been very long lines and that's unfortunate, but again, does i been very long lines and that's . unfortunate, but again, does not most _ unfortunate, but again, does not most airports _ unfortunate, but again, does not most airports. on _ unfortunate, but again, does not most airports— unfortunate, but again, does not most airports. on that point, you mention some _ most airports. on that point, you mention some airports _ most airports. on that point, you mention some airports but - most airports. on that point, you mention some airports but there| most airports. on that point, you - mention some airports but there was london's heathrow which was messy, amsterdam, i'mjust wondering, on this point, i do think airlines and airports, who are less clear blaming each other for the mess, airports, who are less clear blaming each otherfor the mess, do think they could have been better prepared or was an impossible task? i they could have been better prepared or was an impossible task?— or was an impossible task? i have travelled frequently _ or was an impossible task? i have travelled frequently over - or was an impossible task? i have travelled frequently over the - or was an impossible task? i have travelled frequently over the last| travelled frequently over the last couple _ travelled frequently over the last couple of — travelled frequently over the last couple of months _ travelled frequently over the last couple of months in _ travelled frequently over the last couple of months in those - travelled frequently over the last| couple of months in those airport numerous — couple of months in those airport numerous times— couple of months in those airport numerous times and _ couple of months in those airport numerous times and sometimesl couple of months in those airport - numerous times and sometimes chaotic and sometimes — numerous times and sometimes chaotic and sometimes it's— numerous times and sometimes chaotic and sometimes it's fine, _ numerous times and sometimes chaotic and sometimes it's fine, but— numerous times and sometimes chaotic and sometimes it's fine, but without - and sometimes it's fine, but without doubt, _
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and sometimes it's fine, but without doubt, if— and sometimes it's fine, but without doubt, ifyou— and sometimes it's fine, but without doubt, if you have _ and sometimes it's fine, but without doubt, if you have a _ and sometimes it's fine, but without doubt, if you have a bad _ and sometimes it's fine, but withoutj doubt, if you have a bad experience, you want— doubt, if you have a bad experience, you want to — doubt, if you have a bad experience, you want to say _ doubt, if you have a bad experience, you want to say who _ doubt, if you have a bad experience, you want to say who was _ doubt, if you have a bad experience, you want to say who was to - doubt, if you have a bad experience, you want to say who was to blame . doubt, if you have a bad experience, i you want to say who was to blame and certainly _ you want to say who was to blame and certainly the _ you want to say who was to blame and certainly the airlines _ you want to say who was to blame and certainly the airlines have _ you want to say who was to blame and certainly the airlines have been - certainly the airlines have been blaming — certainly the airlines have been blaming the _ certainly the airlines have been blaming the americans, - certainly the airlines have been blaming the americans, but. certainly the airlines have been . blaming the americans, but here's where _ blaming the americans, but here's where the — blaming the americans, but here's where the truth _ blaming the americans, but here's where the truth is. _ blaming the americans, but here's where the truth is. —— _ blaming the americans, but here's where the truth is. —— blaming - where the truth is. —— blaming governments _ where the truth is. —— blaming governments. the _ where the truth is. —— blaming governments. the pandemic. where the truth is. —— blaming. governments. the pandemic saw where the truth is. —— blaming - governments. the pandemic saw a lot of people _ governments. the pandemic saw a lot of people leave — governments. the pandemic saw a lot of people leave the _ governments. the pandemic saw a lot of people leave the industry, - of people leave the industry, whether— of people leave the industry, whether they _ of people leave the industry, whether they were _ of people leave the industry, whether they were forced - of people leave the industry, whether they were forced to i of people leave the industry, - whether they were forced to leave a little in _ whether they were forced to leave a little in their— whether they were forced to leave a little in their own, _ whether they were forced to leave a little in their own, you _ whether they were forced to leave a little in their own, you end - whether they were forced to leave a little in their own, you end up - whether they were forced to leave a little in their own, you end up with. little in their own, you end up with a lot— little in their own, you end up with a lot fewer— little in their own, you end up with a lot fewer workers. _ little in their own, you end up with a lot fewer workers. then - little in their own, you end up with a lot fewer workers. then demandj a lot fewer workers. then demand came _ a lot fewer workers. then demand came back— a lot fewer workers. then demand came back much _ a lot fewer workers. then demand came back much faster— a lot fewer workers. then demand came back much faster than - a lot fewer workers. then demand came back much faster than the l came back much faster than the supply— came back much faster than the supply of— came back much faster than the supply of could _ came back much faster than the supply of could ever— came back much faster than the supply of could ever catch - came back much faster than the supply of could ever catch up i came back much faster than the. supply of could ever catch up and then you — supply of could ever catch up and then you end _ supply of could ever catch up and then you end up— supply of could ever catch up and then you end up with _ supply of could ever catch up and then you end up with a _ supply of could ever catch up and then you end up with a situationl then you end up with a situation like you — then you end up with a situation like you had _ then you end up with a situation like you had at— then you end up with a situation like you had at heathrow- then you end up with a situation like you had at heathrow or - like you had at heathrow or amsterdam _ like you had at heathrow or amsterdam and _ like you had at heathrow or amsterdam and gatwick- like you had at heathrow ori amsterdam and gatwick and like you had at heathrow or - amsterdam and gatwick and that is a problem _ amsterdam and gatwick and that is a problem but— amsterdam and gatwick and that is a problem but it — amsterdam and gatwick and that is a problem but it is _ amsterdam and gatwick and that is a problem. but it is slowly— amsterdam and gatwick and that is a problem. but it is slowly coming - amsterdam and gatwick and that is a problem. but it is slowly coming to l problem. but it is slowly coming to more _ problem. but it is slowly coming to more of— problem. but it is slowly coming to more of an— problem. but it is slowly coming to more of an equilibrium _ problem. but it is slowly coming to more of an equilibrium where - problem. but it is slowly coming to more of an equilibrium where the i more of an equilibrium where the airlines— more of an equilibrium where the airlines and — more of an equilibrium where the airlines and airports _ more of an equilibrium where the airlines and airports are - more of an equilibrium where the airlines and airports are hiring - airlines and airports are hiring people — airlines and airports are hiring people as _ airlines and airports are hiring people as fast _ airlines and airports are hiring people as fast as _ airlines and airports are hiring people as fast as they - airlines and airports are hiring people as fast as they and - airlines and airports are hiring - people as fast as they and training them _ people as fast as they and training them you — people as fast as they and training them. you have _ people as fast as they and training them. you have to— people as fast as they and training them. you have to get— people as fast as they and training them. you have to get people - people as fast as they and training - them. you have to get people through safety _ them. you have to get people through safety checks — them. you have to get people through safety checks and _ them. you have to get people through safety checks and investigations - them. you have to get people through safety checks and investigations and l safety checks and investigations and do all— safety checks and investigations and do all this— safety checks and investigations and do all this to — safety checks and investigations and do all this to get _ safety checks and investigations and do all this to get them _ safety checks and investigations and do all this to get them into - safety checks and investigations and do all this to get them into the - do all this to get them into the job and that— do all this to get them into the job and that takes _ do all this to get them into the job and that takes time. _ do all this to get them into the job and that takes time. this - do all this to get them into the job and that takes time. this is - and that takes time. this is the fact of— and that takes time. this is the fact of eternal— and that takes time. this is the fact of eternal pandemic- and that takes time. this is the fact of eternal pandemic that l and that takes time. this is the| fact of eternal pandemic that we and that takes time. this is the - fact of eternal pandemic that we are working _ fact of eternal pandemic that we are working through _
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fact of eternal pandemic that we are working through.— working through. let's talk about hotel rates _ working through. let's talk about hotel rates because _ working through. let's talk about hotel rates because we _ working through. let's talk about hotel rates because we are - working through. let's talk about - hotel rates because we are regarding those rights. are you seeing any changes that are resulting from the cost of living crisis that we are enduring at the moment? absolutely, hotel rates are _ enduring at the moment? absolutely, hotel rates are way _ enduring at the moment? absolutely, hotel rates are way up. _ enduring at the moment? absolutely, hotel rates are way up. we _ enduring at the moment? absolutely, hotel rates are way up. we need - enduring at the moment? absolutely, hotel rates are way up. we need to i hotel rates are way up. we need to talk with— hotel rates are way up. we need to talk with this — hotel rates are way up. we need to talk with this in — hotel rates are way up. we need to talk with this in a _ hotel rates are way up. we need to talk with this in a earnings - hotel rates are way up. we need to talk with this in a earnings call. - talk with this in a earnings call. 0n talk with this in a earnings call. on an— talk with this in a earnings call. on an average _ talk with this in a earnings call. on an average daily _ talk with this in a earnings call. on an average daily rate - talk with this in a earnings call. on an average daily rate we - talk with this in a earnings call. | on an average daily rate we are coming — on an average daily rate we are coming up— on an average daily rate we are coming up with— on an average daily rate we are coming up with 25% _ on an average daily rate we are coming up with 25% higher - on an average daily rate we are j coming up with 25% higher than on an average daily rate we are . coming up with 25% higher than in 2019 based — coming up with 25% higher than in 2019 based on— coming up with 25% higher than in 2019 based on cost— coming up with 25% higher than in 2019 based on cost of— coming up with 25% higher than in 2019 based on cost of currency. i coming up with 25% higher than in i 2019 based on cost of currency. you have _ 2019 based on cost of currency. you have to _ 2019 based on cost of currency. you have to egualise _ 2019 based on cost of currency. you have to equalise all _ 2019 based on cost of currency. you have to equalise all the _ 2019 based on cost of currency. you have to equalise all the changes - have to equalise all the changes globally— have to equalise all the changes globally and _ have to equalise all the changes globally and you're _ have to equalise all the changes globally and you're not - have to equalise all the changes i globally and you're not comparing apples _ globally and you're not comparing apples with— globally and you're not comparing apples with apples _ globally and you're not comparing apples with apples and _ globally and you're not comparing apples with apples and when - globally and you're not comparing apples with apples and when you i globally and you're not comparing . apples with apples and when you do that, is— apples with apples and when you do that, is 25%— apples with apples and when you do that, is 25% higher— apples with apples and when you do that, is 25% higher than _ apples with apples and when you do that, is 25% higher than 2019 - apples with apples and when you do that, is 25% higher than 2019 so- that, is 25% higher than 2019 so that's— that, is 25% higher than 2019 so that's a — that, is 25% higher than 2019 so that's a big _ that, is 25% higher than 2019 so that's a big increase, _ that, is 25% higher than 2019 so that's a big increase, when- that, is 25% higher than 2019 so that's a big increase, when you i that's a big increase, when you compare — that's a big increase, when you compare that _ that's a big increase, when you compare that energy— that's a big increase, when you compare that energy cost - that's a big increase, when you compare that energy cost or i that's a big increase, when you . compare that energy cost or food costs _ compare that energy cost or food costs or — compare that energy cost or food costs or other— compare that energy cost or food costs or other costs, _ compare that energy cost or food costs or other costs, actually - compare that energy cost or food costs or other costs, actually is l costs or other costs, actually is not that — costs or other costs, actually is not that high _ costs or other costs, actually is not that high.— geographical element of that? it matches up with demand. there's more demand _ matches up with demand. there's more demand if— matches up with demand. there's more demand if prices — matches up with demand. there's more demand if prices were _ matches up with demand. there's more demand if prices were higher— matches up with demand. there's more demand if prices were higher such- matches up with demand. there's more demand if prices were higher such as i demand if prices were higher such as the us— demand if prices were higher such as the us and _ demand if prices were higher such as the us and and— demand if prices were higher such as the us and and asia, _ demand if prices were higher such as the us and and asia, which - demand if prices were higher such as
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the us and and asia, which is - demand if prices were higher such as the us and and asia, which is still. the us and and asia, which is still not having — the us and and asia, which is still not having average _ the us and and asia, which is still not having average day— the us and and asia, which is still not having average day rates - the us and and asia, which is still. not having average day rates above 19% not having average day rates above i9% and _ not having average day rates above i9% and that — not having average day rates above 19% and that makes _ not having average day rates above 19% and that makes sense - not having average day rates above 19% and that makes sense becausej 19% and that makes sense because they haven't — 19% and that makes sense because they haven't recovered _ 19% and that makes sense because they haven't recovered total- 19% and that makes sense because i they haven't recovered total demand yet to _ they haven't recovered total demand yet to 2019 — they haven't recovered total demand yet to 2019 and _ they haven't recovered total demand yet to 2019. and that _ they haven't recovered total demand yet to 2019. and that is— they haven't recovered total demand yet to 2019. and that is obviously. yet to 2019. and that is obviously one of— yet to 2019. and that is obviously one of the — yet to 2019. and that is obviously one of the biggest _ yet to 2019. and that is obviously one of the biggest factors - yet to 2019. and that is obviously one of the biggest factors such i yet to 2019. and that is obviously. one of the biggest factors such will be supply— one of the biggest factors such will be supply and _ one of the biggest factors such will be supply and demand. _ one of the biggest factors such will be supply and demand.— one of the biggest factors such will be supply and demand. then, those rice be supply and demand. then, those price rises. — be supply and demand. then, those price rises, dimension _ be supply and demand. then, those price rises, dimension 25%. - be supply and demand. then, those price rises, dimension 25%. is- be supply and demand. then, those price rises, dimension 25%. is that. price rises, dimension 25%. is that sustainable or will that eventually hit demand? it’s sustainable or will that eventually hit demand?— hit demand? it's an interesting cuestion. hit demand? it's an interesting question. will _ hit demand? it's an interesting question. will it _ hit demand? it's an interesting question. will it be _ hit demand? it's an interesting question. will it be sustained l hit demand? it's an interesting | question. will it be sustained or not and — question. will it be sustained or not and it's— question. will it be sustained or not and it's interesting - question. will it be sustained or not and it's interesting because| question. will it be sustained or. not and it's interesting because we know— not and it's interesting because we know in_ not and it's interesting because we know in most— not and it's interesting because we know in most times _ not and it's interesting because we know in most times when - not and it's interesting because we know in most times when the i not and it's interesting because we i know in most times when the amount of rooms— know in most times when the amount of rooms are — know in most times when the amount of rooms are filled _ know in most times when the amount of rooms are filled in _ know in most times when the amount of rooms are filled in hotel— know in most times when the amount of rooms are filled in hotel is - of rooms are filled in hotel is lower. — of rooms are filled in hotel is lower. prices— of rooms are filled in hotel is lower, prices dropped - of rooms are filled in hotel is lower, prices dropped as i of rooms are filled in hotel is i lower, prices dropped as hotels of rooms are filled in hotel is - lower, prices dropped as hotels try to up— lower, prices dropped as hotels try to up the _ lower, prices dropped as hotels try to up the occupancy. _ lower, prices dropped as hotels try to up the occupancy. the _ lower, prices dropped as hotels tryi to up the occupancy. the occupancy rate is _ to up the occupancy. the occupancy rate is still— to up the occupancy. the occupancy rate is still lower— to up the occupancy. the occupancy rate is still lower than _ to up the occupancy. the occupancy rate is still lower than it— to up the occupancy. the occupancy rate is still lower than it was - to up the occupancy. the occupancy rate is still lower than it was in- rate is still lower than it was in 2019. — rate is still lower than it was in 2019. yet— rate is still lower than it was in 2019. yet the _ rate is still lower than it was in 2019, yet the prices _ rate is still lower than it was in 2019, yet the prices are - rate is still lower than it was in 2019, yet the prices are muchl 2019, yet the prices are much higher~ — 2019, yet the prices are much higher~ it's_ 2019, yet the prices are much higher. it's kind _ 2019, yet the prices are much higher. it's kind of— 2019, yet the prices are much higher. it's kind of a - 2019, yet the prices are much higher. it's kind of a strange i higher. it's kind of a strange situation _ higher. it's kind of a strange situation on _ higher. it's kind of a strange situation on the _ higher. it's kind of a strange situation on the question i higher. it's kind of a strangel situation on the question will higher. it's kind of a strange i situation on the question will be, if there _ situation on the question will be, if there is— situation on the question will be, if there is a — situation on the question will be, if there is a recession _ situation on the question will be, if there is a recession or- situation on the question will be, if there is a recession or if- situation on the question will be, | if there is a recession or if people start— if there is a recession or if people start feeling — if there is a recession or if people start feeling that _ if there is a recession or if people start feeling that they— if there is a recession or if people start feeling that they can't - if there is a recession or if people j start feeling that they can't afford to travel — start feeling that they can't afford to travel because _ start feeling that they can't afford to travel because energy- start feeling that they can't afford to travel because energy costs i start feeling that they can't afford | to travel because energy costs are
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so high _ to travel because energy costs are so high food _ to travel because energy costs are so high, food costs— to travel because energy costs are so high, food costs are _ to travel because energy costs are so high, food costs are so - to travel because energy costs are so high, food costs are so high, i to travel because energy costs are so high, food costs are so high, if| so high, food costs are so high, if that demand _ so high, food costs are so high, if that demand goes— so high, food costs are so high, if that demand goes down, - so high, food costs are so high, if that demand goes down, will- so high, food costs are so high, if. that demand goes down, will those prices _ that demand goes down, will those prices start — that demand goes down, will those prices start to _ that demand goes down, will those prices start to drop _ that demand goes down, will those prices start to drop and _ that demand goes down, will those prices start to drop and go - that demand goes down, will those prices start to drop and go back i that demand goes down, will those prices start to drop and go back toi prices start to drop and go back to where _ prices start to drop and go back to where they— prices start to drop and go back to where they were? _ prices start to drop and go back to where they were? it's _ prices start to drop and go back to where they were? it's hard - prices start to drop and go back to where they were? it's hard to i prices start to drop and go back toj where they were? it's hard to say. prices start to drop and go back to. where they were? it's hard to say. i will say _ where they were? it's hard to say. i will say that — where they were? it's hard to say. i will say that we _ where they were? it's hard to say. i will say that we are _ where they were? it's hard to say. i will say that we are at _ where they were? it's hard to say. i will say that we are at a _ where they were? it's hard to say. i will say that we are at a very- where they were? it's hard to say. i will say that we are at a very high . will say that we are at a very high level— will say that we are at a very high level right — will say that we are at a very high level right now— will say that we are at a very high level right now and _ will say that we are at a very high level right now and i— will say that we are at a very high level right now and i would - will say that we are at a very high level right now and i would not i will say that we are at a very high| level right now and i would not be surprised — level right now and i would not be surprised if— level right now and i would not be surprised if rates _ level right now and i would not be surprised if rates for— level right now and i would not be surprised if rates for hotels - level right now and i would not be surprised if rates for hotels do i level right now and i would not be| surprised if rates for hotels do not drop in_ surprised if rates for hotels do not drop in the — surprised if rates for hotels do not drop in the near— surprised if rates for hotels do not drop in the near future. _ surprised if rates for hotels do not drop in the near future. the?- surprised if rates for hotels do not drop in the near future. they would not shock me _ drop in the near future. they would not shock me in _ drop in the near future. they would not shock me in the _ drop in the near future. they would not shock me in the least. - drop in the near future. they would not shock me in the least. glenn, l not shock me in the least. glenn, let me end on this. how confident are you, are you confident for the business for this time next year, and on a broader picture, what trends do you think are in the future? i trends do you think are in the future? . ,., , .,, trends do you think are in the future? . ,., , ., , ., future? i am so pleased were we are toda . future? i am so pleased were we are today- when — future? i am so pleased were we are today. when this _ future? i am so pleased were we are today. when this pandemic - future? i am so pleased were we are today. when this pandemic started l today. when this pandemic started two and _ today. when this pandemic started two and a — today. when this pandemic started two and a half— today. when this pandemic started two and a half years _ today. when this pandemic started two and a half years ago, - today. when this pandemic started two and a half years ago, i- today. when this pandemic started two and a half years ago, i talked i two and a half years ago, i talked to our— two and a half years ago, i talked to our team — two and a half years ago, i talked to our team and _ two and a half years ago, i talked to our team and we _ two and a half years ago, i talked to our team and we had - two and a half years ago, i talked to our team and we had 27,000 i two and a half years ago, i talked - to our team and we had 27,000 people at the _ to our team and we had 27,000 people at the time _ to our team and we had 27,000 people at the time and — to our team and we had 27,000 people at the time and we _ to our team and we had 27,000 people at the time and we said _ to our team and we had 27,000 people at the time and we said this _ to our team and we had 27,000 people at the time and we said this is - to our team and we had 27,000 people at the time and we said this is not i at the time and we said this is not good _ at the time and we said this is not good but — at the time and we said this is not good but it— at the time and we said this is not good but it will— at the time and we said this is not good but it will change _ at the time and we said this is not good but it will change and - at the time and we said this is not good but it will change and we i at the time and we said this is not| good but it will change and we will -et good but it will change and we will get out _ good but it will change and we will get out of — good but it will change and we will get out of it — good but it will change and we will get out of it but _ good but it will change and we will get out of it but it _ good but it will change and we will get out of it but it will _ good but it will change and we will get out of it but it will take - good but it will change and we will get out of it but it will take time . get out of it but it will take time and take — get out of it but it will take time and take years. _ get out of it but it will take time and take years, not _ get out of it but it will take time and take years, not quarters, i get out of it but it will take time i and take years, not quarters, years to recover — and take years, not quarters, years to recover and _ and take years, not quarters, years to recover. and now— and take years, not quarters, years to recover. and now we _ and take years, not quarters, years to recover. and now we are - to recover. and now we are recovering. _ to recover. and now we are recovering. the _ to recover. and now we are recovering. the second - to recover. and now we are - recovering. the second quarter being able to _ recovering. the second quarter being able to show — recovering. the second quarter being able to show growth _ recovering. the second quarter being able to show growth over _ recovering. the second quarter being able to show growth over 2019, - recovering. the second quarter being| able to show growth over 2019, being able to show growth over 2019, being
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able to— able to show growth over 2019, being able to show— able to show growth over 2019, being able to show 35 — able to show growth over 2019, being able to show 35 billion _ able to show growth over 2019, being able to show 35 billion us _ able to show growth over 2019, being able to show 35 billion us dollars - able to show 35 billion us dollars worth_ able to show 35 billion us dollars worth of— able to show 35 billion us dollars worth of travel— able to show 35 billion us dollars worth of travel which _ able to show 35 billion us dollars worth of travel which was - able to show 35 billion us dollars worth of travel which was 38% i worth of travel which was 38% increase — worth of travel which was 38% increase over _ worth of travel which was 38% increase over the _ worth of travel which was 38% increase over the 2019 - worth of travel which was 38% i increase over the 2019 number, worth of travel which was 38% - increase over the 2019 number, and is going _ increase over the 2019 number, and is going to _ increase over the 2019 number, and is going to continue _ increase over the 2019 number, and is going to continue to _ increase over the 2019 number, and is going to continue to trim - increase over the 2019 number, and is going to continue to trim the - is going to continue to trim the desert — is going to continue to trim the desert have _ is going to continue to trim the desert have a _ is going to continue to trim the desert have a setback? - is going to continue to trim the desert have a setback? there i is going to continue to trim the . desert have a setback? there are is going to continue to trim the - desert have a setback? there are so marry— desert have a setback? there are so marry things— desert have a setback? there are so many things people _ desert have a setback? there are so many things people are _ desert have a setback? there are so many things people are concerned . many things people are concerned about, _ many things people are concerned about, recession, _ many things people are concerned about, recession, inflation, - about, recession, inflation, terribte _ about, recession, inflation, terribte war— about, recession, inflation, terrible war in— about, recession, inflation, terrible war in ukraine - about, recession, inflation, terrible war in ukraine right about, recession, inflation, - terrible war in ukraine right now which _ terrible war in ukraine right now which is — terrible war in ukraine right now which is causing _ terrible war in ukraine right now which is causing all— terrible war in ukraine right now which is causing all sorts - terrible war in ukraine right now which is causing all sorts of - which is causing all sorts of terribte _ which is causing all sorts of terrible things— which is causing all sorts of terrible things for- which is causing all sorts of terrible things for people . which is causing all sorts of l terrible things for people and travel— terrible things for people and travel and _ terrible things for people and travel and it— terrible things for people and travel and it impacts - terrible things for people and travel and it impacts the - terrible things for people and i travel and it impacts the world's economy — travel and it impacts the world's economy who— travel and it impacts the world's economy. who knows— travel and it impacts the world's economy. who knows what's - travel and it impacts the world's i economy. who knows what's going travel and it impacts the world's - economy. who knows what's going to happen— economy. who knows what's going to happen which — economy. who knows what's going to happen which is— economy. who knows what's going to happen which is my— economy. who knows what's going to happen which is my way _ economy. who knows what's going to happen which is my way of _ economy. who knows what's going to happen which is my way of thinking. i happen which is my way of thinking. i can happen which is my way of thinking. icah control — happen which is my way of thinking. i can control the _ happen which is my way of thinking. i can control the poor— happen which is my way of thinking. i can control the poor we _ happen which is my way of thinking. i can control the poor we can - i can control the poor we can control— i can control the poor we can control is— i can control the poor we can control is make _ i can control the poor we can control is make sure - i can control the poor we can control is make sure to - i can control the poor we can control is make sure to playi i can control the poor we can i control is make sure to play our part _ control is make sure to play our part to — control is make sure to play our part to provide _ control is make sure to play our part to provide better— control is make sure to play our part to provide better value - control is make sure to play our part to provide better value to i control is make sure to play our. part to provide better value to the consumers — part to provide better value to the consumers who— part to provide better value to the consumers who are _ part to provide better value to the consumers who are travelling - part to provide better value to the consumers who are travelling and| part to provide better value to the . consumers who are travelling and our partners _ consumers who are travelling and our partners who — consumers who are travelling and our partners who soppty _ consumers who are travelling and our partners who supply them, _ consumers who are travelling and our partners who supply them, hotels, i partners who supply them, hotels, air hotd _ partners who supply them, hotels, air hotd tetis — partners who supply them, hotels, air hold tells. but _ partners who supply them, hotels, air hold tells. but i— partners who supply them, hotels, air hold tells. but i don't— partners who supply them, hotels, air hold tells. but i don't know- air hold tells. but i don't know what's — air hold tells. but i don't know what's going _ air hold tells. but i don't know what's going to _ air hold tells. but i don't know what's going to happen- air hold tells. but i don't know what's going to happen next. air hold tells. but i don't know- what's going to happen next quarter or next— what's going to happen next quarter or next year— what's going to happen next quarter or next year but _ what's going to happen next quarter or next year but i— what's going to happen next quarter or next year but i do— what's going to happen next quarter or next year but i do know _ what's going to happen next quarter or next year but i do know that - what's going to happen next quarter or next year but i do know that in. or next year but i do know that in the tong — or next year but i do know that in the tong run— or next year but i do know that in the long run people will- or next year but i do know that in the long run people will always. the long run people will always want to travel— the long run people will always want to travel more _ the long run people will always want to travel more. this _ the long run people will always want to travel more. this has _ the long run people will always want to travel more. this has been- the long run people will always want to travel more. this has been going| to travel more. this has been going on for— to travel more. this has been going on for 120 _ to travel more. this has been going on for 120 years _ to travel more. this has been going on for 120 years. go _ to travel more. this has been going on for 120 years. go back _ to travel more. this has been going on for 120 years. go back to - to travel more. this has been going| on for 120 years. go back to thomas cooh— on for 120 years. go back to thomas cook when _ on for 120 years. go back to thomas
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cook when he — on for 120 years. go back to thomas cook when he started _ on for 120 years. go back to thomas cook when he started out, _ on for 120 years. go back to thomas cook when he started out, people i cook when he started out, people want _ cook when he started out, people want to _ cook when he started out, people want to travel— cook when he started out, people want to travel more _ cook when he started out, people want to travel more and _ cook when he started out, people want to travel more and more - cook when he started out, peoplei want to travel more and more and more _ want to travel more and more and more gdp— want to travel more and more and more gdp in— want to travel more and more and more. gdp in the _ want to travel more and more and more. gdp in the long _ want to travel more and more and more. gdp in the long one - want to travel more and more and more. gdp in the long one will- want to travel more and more and more. gdp in the long one will go| more. gdp in the long one will go up, more. gdp in the long one will go up. trevor— more. gdp in the long one will go op. trevor goes— more. gdp in the long one will go op. trevor goes up. _ more. gdp in the long one will go up, trevor goes up, our— more. gdp in the long one will go up, trevor goes up, ourjob - more. gdp in the long one will go up, trevor goes up, ourjob is - more. gdp in the long one will go up, trevor goes up, ourjob is to. up, trevor goes up, ourjob is to continue — up, trevor goes up, ourjob is to continue to— up, trevor goes up, ourjob is to continue to get _ up, trevor goes up, ourjob is to continue to get a _ up, trevor goes up, ourjob is to continue to get a bigger- up, trevor goes up, ourjob is to continue to get a bigger piece i up, trevor goes up, ourjob is to continue to get a bigger piece of this larger— continue to get a bigger piece of this larger pie~ _ continue to get a bigger piece of this larger pie. -- _ continue to get a bigger piece of this larger pie-— this larger pie. -- travel goes u - . .. this larger pie. -- travel goes op- -- then — this larger pie. -- travel goes up... then fogel, _ this larger pie. -- travel goes up. .. then fogel, thank- this larger pie. -- travel goes up... then fogel, thank you i this larger pie. -- travel goes l up... then fogel, thank you for this larger pie. -- travel goes - up... then fogel, thank you for your time and i will check in with you soon. p, ~' time and i will check in with you soon. . ~ i. time and i will check in with you soon. . ~ . time and i will check in with you soon-_ youi time and i will check in with you i soon-_ you can soon. thank you so much. you can kee u- soon. thank you so much. you can keep up with _ soon. thank you so much. you can keep up with the — soon. thank you so much. you can keep up with the latest _ soon. thank you so much. you can keep up with the latest on - soon. thank you so much. you can keep up with the latest on the - keep up with the latest on the global economy and the bbc website or the smartphone app. you can also follow me on twitter. tweet me and i will treat you back. thank you for watching and i will see you soon. hello. it is hot and it is dry. cooler weather is forecast to spread to all parts of the uk through the early part of next week. rain, however, will be slightly harder to pin down. the extreme heat warning remains in place until the end of sunday and much of england and stretches
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across into mid wales. faultless blue skies and sunshine beating down keeping the temperatures rising day on day. some thicker cloud over night returning to eastern scotland, the north—east of england, some mist and murk along the coast. some drizzly rain for northern scotland and then by the end of the night, some showers are starting to push into northern ireland and the south—west of england. and if through sunday that we are anticipating the shower becoming increasingly lively. thundery for northern ireland and northern and western scotland. and with a rain arriving, we start to see things becoming cooler here. some isolated showers possible further west but very little in the way of significant rainfall for england and wales on sunday. it's monday that we start see wetter conditions coming in here.
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this is bbc news. i'm luxmy gopal and these are the latest headlines. writers and politicians condemn an attack on acclaimed author, sir salman rushdie, who's now on a ventilator, after being stabbed on stage in the us state of new york. his agent says the 75—year—old can't speak, is likely to lose an eye, has a damaged liver, and the nerves in one arm have been severed in the attack. more extreme heat is expected in the southern half of the uk over the next two days. that, as experts also warn england's drought could last into the next year. travel disruption after thousands of train drivers from 9 rail companies go on strike across the uk today. it's the latest walk—out in a row over pay and conditions. documents in the us show fbi agents seized papers marked "top secret" when they searched the florida home
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of the former president donald trump on monday.

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