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tv   Verified Live  BBC News  October 10, 2023 4:30pm-5:01pm BST

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this is bbc news, the headlines... a new barrage of rockets is fired from gaza to israel. hamas warned people they had just hours to leave ashkelon. there have been some heavy explosions, as well as explosions by the israeli air defence system, iron dome. a few minutes ago, i could smell explosive wafting through the windows. israel's death toll since saturday passes 1,000, as soldiers reach the dead in southern communities. gaza remains under constant bombardment. the health ministry says 830 palestinianians have been killed since saturday.
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more than 4,000 are injured. hamas says it'll kill hostages if air strikes are launched without warning. it refuses to negotiate their release. in all honesty, i try not to imagine, because it's too difficult, and these are the times where i break. and i don't want to break right now, because i want to keep pushing for the release of my mum and brother. more on those developments in a few minutes. time for a look at the business news now with ben thompson. let's start with the latest market reaction to the events unfolding in israel and gaza. markets have been on edge as they absorb the many potential ramifications from the conflict. israel's central bank moved to calm markets —
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and stabilise their currency — by saying it would sell up to $30 billion of foreign currency. the price of oil has been in focus — jumping up by 5% on monday at one point — but has since stabilised. but the big mover has really been us bonds — with treasury yields falling the most since march — as the conflict pushed investors towards safer assets. 0ur north america business correspondent michelle fleury joins me now from new york. explain the link. why do the us bonds feel the effects of what is happening in the middle east? the? happening in the middle east? they are considered _ happening in the middle east? they are considered the _ happening in the middle east? tie: are considered the benchmark, at least in a lot of the financial system, it is what a lot of other instruments are, it is the baseline for many financial products, if you like, notjust in the us but more broadly around the globe. at a time of uncertainty, what people don't know —— when people do not know what is happening next, it can be seen as
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a safe haven, let the storm and then see where the dust settles, that is why you have seen that kind of rush into bonds which has pushed down years and that has a second order effect which is, in recent months, we have seen it yields on us government bonds actually climbing to levels where it was going to put up to levels where it was going to put up the cost of borrowing, notjust for the us government, but also for consumers and companies, and there was a debate going on about what this would mean for the federal reserve which has been raising interest rates to tame inflation and there was comment that because of there was comment that because of the increase in us bond yields, they might not need to take further action. ., ., ., ., ., action. for now, thanks for “oining us. well, as we mentioned, israel's central bank moved to prop up the currency — the shekel — yesterday.
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but the outbreak of war and recent internal political turmoil has cast doubt over israel's thriving economy. last year, it grew by 6.5% — much stronger than most western countries — where the average growth among 0ecd nations wasjust 2.8%. according to the world bank, in 2022 israel was the 27th biggest economy in the world with a gdp of $522 billion us. it ranks as 11th in the world on a per—capita basis. i asked one former imf economist, david woo, about the impact this conflict will have on the economy. the good news here is that the starting point of the israeli economy is exceptional strength. i mean, the economy has been growing at a rapid pace, but more importantly is the external account, which has been very, very healthy.
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israel runs a current account surplus, four percentage points of gdp. i mean, and a very big part of, of course, has been a discovery of gas. so, israel is energy independent. so from that point of view, ironically, over the last few years, the central bank has had to basically buy dollars every month in order to stop the currency from appreciating. so from that point of view, the central bank is sitting on a lot of reserves which they can basically release now to basically ease any basically a shortage of dollars in israel, which i don't think it's going to happen, butjust in case it does. so from that point of view, i would argue, yeah, there's no doubt that the tourism sector probably is going to get hit very hard. i know people who just cancelled their trips to israel. the whole vc sector, you know, obviously, you know, a major industry in israel is tech and most israeli companies monetise by essentially getting their funding from global vcs, venture capital firms and so on and so forth. and that money is probably going to dry up, i imagine,
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at least in the basically immediate future. but nevertheless, i think the important thing is that there are a lot of interest rates are relatively high. so they can cut interest rates if they have to, you know, and then also, as you said before, in the past, if experience tells us anything at all, the israeli economy tends to be quite resilient to wars. now, of course, this is a different kind of war. i mean, israel has not fought a war like this probably since 1973, because this is not going to be an in and out operation into gaza. this is going to be going in to destroy hamas. and there's no doubt that the israeli public, for the first time in 20 years is united, that this has to happen regardless of the cost and the sacrifice. and that is going to basically require door to door, street to street fighting, which means a much more prolonged conflict than we've ever seen in israel since 1973. and that is a pretty scary prospect. david is speaking to me earlier, a former imf economist. the global economy is limping along — not sprinting. those are the words
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of the international monetary fund's chief economist. following the release of the imf�*s global economic outlook today, pierre—olivier gourinchas sat down with our economics editor faisal islam at the world bank and imf�*s annual meeting in marra kech. well, things are going in the right direction. what we're seeing is, despite the large shocks that you describe, the world economy is still standing. no global recession, no massive slowdown that would put us into, you know, huge unemployment rates. we haven't seen that. we've seen a surge in inflation, but inflation is sort of coming down now, both headline inflation and core inflation. so, that's the good news. things are improving. the global economy has been resilient. at the same time, the growth numbers we have, around 3% for this year, 2.9% for next year. this is way below historical average. so, the global economy is limping along. it's not sprinting,
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but it's been resilient. and do you, from this point see, there are areas where you've been disappointed that china's growth, for example, has been a disappointment this year? so the other story, which is really important is divergence. what we're saying is, you know, the number hasn't changed very much, actually from our previous round of forecast back injuly or even relative to april. i mean, we were around 3% for 2023 injuly as well. but there's been quite a bit of reshuffling. and the reshuffling we see, some countries doing better than expected. the us is among those. japan has been doing better than expected among advanced economies. among emerging market economies, a number of them have been doing better than expected india, brazil, russia. and then there are a bunch of countries that have been doing worse. and among the countries that have been doing worse, you know, you have the euro area. it's been revised down about 0.2 percentage point. and china, 0.2 percentage point. so we have this sort of reconfiguration. countries are in
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a different space... just picking something up, you said that russia was performing better than expected. that's obviously quite interesting because the assumption had been under the yoke of so much sanctions, it would do disastrously as sanctions not affecting russia as much as you'd expect? well, sanctions have been affecting russia and russia has been doing relatively poorly in 2023, 2022, but not as bad as was initially expected. now, some of it is coming in large part from the fact that it's running really a war economy at this point with a lot of fiscal spending. so there is a lot of support, there's a lot of transfers, there is a lot of income that is being distributed around to support the war effort and that is helping to prop up the growth numbers. but in the case of russia, again, if you take the medium term perspective and you look at their medium term growth prospects, they are coming down dramatically. we're now projecting their medium term growth might be around 0.9% a year. it used to be around 1.8% a year. so almost half as what it used to be.
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that was the chief economist of the imf. in other news... the fraud trial of sam bankman—fried is due to resume on tuesday with testimony from his former colleagues at the now—bankrupt ftx cryptocurrency exchange. most anticipated is the testimony of his one time girlfriend caroline ellison. she was the former co—chief executive officer of bankman—fried's alameda research hedge fund. her testimony is likely to delve in to both alameda's business practices and her personal relationship with the 31—year—old former billionaire. the uk faces another five years of high interest rates to stem rising prices, according to an international monetary fund report. it expects the uk to have the highest inflation and slowest growth next year of any g7 economy including the us, france, germany, canada, italy and japan. however, the uk treasury said recent revisions to uk growth had not been factored in to the report.
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chinese company country garden said it might not be able to meet all of its offshore payment obligations, as the country's largest private property developer grapples with debt restructuring. companies accounting for 40% of chinese home sales — mostly private property developers — have defaulted on debt obligations since a liquidity crisis hit the sector in 2021, leaving many homes unfinished. those are the latest business headlines. around the world and across the uk, this is bbc news. we are in a skills lab where we learn how to take blood. as you can see, we have a couple of mannequins, and i will quickly demonstrate some cpr. we have different mannequins with different skin tones and this encapsulates what we are trying to do as part of the project which is to improve visual representation of different skin types within our
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curriculum. the website shows an array of different skin conditions and skin types. i array of different skin conditions and skin tym— array of different skin conditions and skin types. i am a third-year medical student _ and skin types. i am a third-year medical student at _ and skin types. i am a third-year medical student at university - and skin types. i am a third-year medical student at university ofl medical student at university of exeter— medical student at university of exeter and it is important to be represented in health care, as it means_ represented in health care, as it means you — represented in health care, as it means you have an equal level of competence when you are being treated — competence when you are being treated and you feel like you are being _ treated and you feel like you are being respected. floss treated and you feel like you are being respected.— treated and you feel like you are being respected. treated and you feel like you are bein: resected. :: ' ., , , ., being respected. 4096 of students for the medical programme _ being respected. 4096 of students for the medical programme are - being respected. 4096 of students for the medical programme are from - the medical programme are from ethnic_ the medical programme are from ethnic minorities— the medical programme are from ethnic minorities so _ the medical programme are from ethnic minorities so it's - the medical programme are from | ethnic minorities so it's important for them — ethnic minorities so it's important for them to— ethnic minorities so it's important for them to represented - ethnic minorities so it's important for them to represented and - ethnic minorities so it's important for them to represented and in. ethnic minorities so it's importantl for them to represented and in the bigger— for them to represented and in the bigger picture _ for them to represented and in the bigger picture we _ for them to represented and in the bigger picture we need _ for them to represented and in the bigger picture we need to - for them to represented and in the bigger picture we need to make i for them to represented and in the l bigger picture we need to make sure they are _ bigger picture we need to make sure they are competent _ bigger picture we need to make sure they are competent and _ bigger picture we need to make sure they are competent and confident i bigger picture we need to make sure they are competent and confident to| they are competent and confident to treat a _ they are competent and confident to treat a diverse — they are competent and confident to treat a diverse population _ they are competent and confident to treat a diverse population in - they are competent and confident to treat a diverse population in the - treat a diverse population in the uk. you're live with bbc news. let's return to our top story today. un agencies have condemned the mass killings by hamas and called on them to release the hostages they've taken. earlier we spoke to ayalet svatitzky — her brother was killed — and her mother and another brother kidnapped by hamas. have a listen.
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i woke up on saturday morning, and i live up north, and it was very unusual to hear my husband on the phone so early in the morning. he told me something bad was happening down south so i grabbed my phone and saw my phone burning with messages and i realised that there was a hamas terrorist attack by missiles and also on the ground and there are terrorists inside the area where my family live. i frantically called my mother to tell her to go into the safe room which is designed to shield herfrom rockets but not from any sort of invasion. i called herfrantically and told her to lock herself in the room and not to open the door, no matter what. as i was speaking to her, she told me her house was not locked and she heard
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the door open and i heard people talking to her in english with an arabic accent so i realised the hamas terrorists got to her. i hung up the phone and called my brother who lives next door to her, just ten metres away, to tell him i do not know what is happening and to not open his door, and he picked up the phone and i was telling him to lock himself in and not open no matter what and i heard them enter his house as i was speaking to him. they also spoke to him in english with an arabic accent. i let people inside the community know that the terrorists were at my mother and my brothers. i got the word through but they could not get to them.
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a few minutes later, i got a couple of pictures sent to my phone from my mother's phone with pictures showing my mother and brother both sitting in my mother's living room, pictures taken by one of the terrorists. underneath, it said in english, "hamas." that was the last communication i had with both of them. so hamas sent you a picture of the moment that they were kidnapped, of both your mother and your brother? yes. and later they posted a third pitcure to my mother's facebook story, a picture of my mother and brother sitting in the living room with an armed figure in the background. they posted that to her facebook story, this is not something she would know how to do. that is incredibly distressing.
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we have on our screens the images you have just described. it is also terrifying and i assume even more terrifying given the threats to execute hostages made over the last 24 hours by hamas? troubling does not even begin to describe it. we are in utter shock. i later learned my neighbours saw terrorists take my mother and my brother. my eldest brother who is 54, he was not found that evening so we did not know if he was taken, too. his body was found the next day. he was found shot dead behind his house.
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my mother and my other brother, my mum is 79, an elderly woman, she is diabetic and she uses insulin daily. my brother is 51. he takes medication for his diabetes. we don't know what kind of conditions they are being held at and we don't know if they are getting their medication and we don't know if they are being fed. we get absolutely no information. there was no confirmation from hamas as to names or pictures or any kind of information, as to the people they took. we are just in the dark. i'm so sorry for your loss regarding your brother. in terms of your mother and your other brother, do you hope that they at least are together? how do you anticipate they would be holding up in a situation like this? can you even imagine?
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i hope they are together. in all honesty, i try not to imagine because it is too difficult and these are the times when i break and i do not want to break right now because i want to keep pushing for the release of my mother and my brother. i'm holding hamas responsible and i think the international community should hold them accountable for this. we are trying to get medication to the elderly or to whoever needs them, we are trying to get names, but when i stop to think about the conditions they are being held in, we don't know if they are underground, overground, i don't know if they are together. i don't know how long my mum can survive without her insulin. i try not to think about it because it is just too devastating for me. i have lost my brother — there's nothing i can do about it. all i can do is bury him.
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both myself and my brothers are british citizens and the british authorities have been in touch with me and i deeply appreciate that but we are waiting for answers, basic answers. we were listening in the last hour to american—israelis talking frankly about not hearing a single thing from the israeli government in four days, have you had any contact from the israeli authorities? one more question, what would you like them to do at this stage? do you have any idea? i have not been officially informed about my brother who died. about him, or about my mum and brother who have been abducted.
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i have been to the police station, sunday morning, to file a missing persons report, as i was requested to do. i submitted dna testing, samples. but i have not heard a single word from the israeli authorities, not regarding my brother, or my mother and brother who have been taken. i do not expect to get all the answers right now and i do not expect them to know everything but i did expect to get a message or a phone call saying that my report about my mother and brother missing, that they received my report and they have my information, my contact information. yes, just an acknowledgement of the basic facts? acknowledgement that my details and the details of my mother and brother...
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0ne brief final question. the leader of hamas said today they will not negotiate until the end of the battle, which presumably means if it pans out that way, it looks like an excruciating time for you in the days and potentially weeks ahead. yes. we willjust take it day by day. i don't know how long this is going to last and i don't know what we are going to information get or when, but we are going to take it day by day and do our very best. we will demand the answers we are entitled to get. i'm just staying hopeful, that is all i can do. i've lost one brother. ijust want my mother and my other brother back. you are watching bbc news. earlier i
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spoke to a representative of the what is going on is horrific. it did not start on the 7th of october but surely this has made the situation to a point of no return. i have said since the very beginning, of this new page of tragedy, that the deliberate killing and hostagetaking of innocent israeli people cannot be tolerated and should be accounted for. these are crimes and so the hostages have got to be returned as soon as possible to their families. at the same time, it is absolutely necessary that hostilities in gaza stop because they are causing
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extreme brutal harm to a population of 2 million people and there is no way to spare life. the violence is more brutal than has ever been seen. gaza is already under an unlawful blockade, was already under an unlawful blockade, and the cut off of any type of aid and services like medicines, electricity, this might lead to starvation. this must stop. in terms of the total siege that has been announced, do you share the assessment that we heard earlierfrom geneva, that it's a violation of international law? absolutely. what i mentioned, causing starvation
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is a crime against humanity, it is extremely serious and as you mentioned, it has already been denounced by a number of international experts and agencies. it's unconscionable what's happening. the only crossing point that appears to be open is egypt and then only small numbers are actually getting out, people who already have prior approval. in terms of what palestinians can do, what is the bestjudgment you are making in terms of what is actually happening on the ground and where you expect those people potentially to go? my fear is that the situation is very fluid and volatile so it's difficult for me to talk about, for example, images and information which is not verified, but what i have seen recently is that bombings have been occurring where people have been crossing in
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between gaza and egypt. there is really nowhere to go for ordinary people in gaza. they are blocked as they were in 2008, 2014, 2021, and 2022. this is what happens to a population under blockade. as we know — with any major global event, as information is shared online, there is also the risk of disinformation. the bbc verify team's shayan sardarizadeh has been looking at some of the most viral examples. no shortage of real social media footage depicting the conflict between israel and hamas but misinformation has been spreading rapidly and for example, this video has been shared and viewed minutes of times but claims that it shows war footage from the last few days
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in his, is false. the video shows fireworks and celebrations by supporters of an algerian football team and it was posted to tiktok in late september and then deleted. we found a copy online and as you can see the date on the video is the 28th of september. here's another example, this video claims to show israeli generals but this is also false and you can see the logo on the uniforms of the agents and it belongs to the state security service of azerbaijan. in fact the video was posted to the official youtube channel and it shows the arrest of senior separatist leaders. some examples of misinformation we have seen appear to appeal to people's emotions, like this which has since been deleted and it claims
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that the one of the oldest in the world was destroyed by israeli forces about the church clarified that the claims were false, saying it was unharmed. the news you spread is nothing more than rumours, it says. these are just a few examples, but there are many more online. we will continue to check for more as the conflict unfolds. irate will continue to check for more as the conflict unfolds.— the conflict unfolds. we will be live in jerusalem _ the conflict unfolds. we will be live in jerusalem in _ the conflict unfolds. we will be live in jerusalem in a _ the conflict unfolds. we will be live in jerusalem in a moment | the conflict unfolds. we will be i live in jerusalem in a moment or live injerusalem in a moment or two. now it's time for a look at the weather. hello. it was not like this everywhere, further north and west we had cloud and outbreaks of rain come across parts of scotland, and a bit of rain for northern ireland and northern england and you can see a couple of different weather features here on the earlier satellite picture and it is this one which becomes the main
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weather maker, the band of rain peppihg weather maker, the band of rain pepping up weather maker, the band of rain popping up from the west but to the south we stay in the warm air out so overnight lows of 14—15, but to the north of the weather front, some parts of the highlands will get close to freezing and as we head into tomorrow the weather front continues to act as a dividing line bringing outbreaks of white heavy rain across some essential parts of the uk, the rain moving out of northern england into wales, the midlands, parts of east anglia through the afternoon, and to the north, sunny spells and scattered showers, a brisk wind and gales in the far north of scotland, and to the far north of scotland, and to the south of the weather front, sunny spells, and another warm day with temperatures again into the 20s. further north, it is going to feel quite a lot colder. although only really feeling as we would expect it to at this time of year, and as we head into thursday, the weather front lingers in and as we head into thursday, the weatherfront lingers in parts of southern england and south wales into the midlands, so cloud and splashes of rain, and further north,
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sunny spells, a few showers, and most of us into something cooler by this stage but 19, 20, 21 for south—west england and the channel islands. this would tend to pull away southwards to the day but a brief resurgence of warmth into the south—east corner at 20 degrees but further north and west, 12 in aberdeen and glasgow, 13 for belfast, which is a sign of things to come for the weekend because the weather system finally pulls away in the south and in its wake it leaves us with the north—westerly wind and so much colder air sinking southwards across all parts of the uk. we are looking at daytime temperatures between nine and 14 at best and a lot of dry weather and a few showers, and at night they could be some frost. —— there.
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he live from london. this is bbc news. a new barrage of rockets is fired from gaza to israel. israel's death toll since saturday passes 1,000, as soldiers reach the dead in southern communities. gaza remains under constant bombardment. the health ministry says 830 palestinianians have been killed since saturday. more than 4,000 are injured. hamas says it'll kill hostages if air strikes are launched without warning. it refuses to negotiate their release. in all honesty, i try not to imagine, because it's just too difficult.
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there are times i break, and i don't want to break right now,

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