tough at the top — from budgets to boeing, making those big calls is hard work and rarely can you please everyone. we take a look at the world of the big boss. live from london, this is business today. i'm mark lobel. we start in the us, where striking boeing workers have been rallying in seattle, piling further pressure on the embattled plane—maker to find a way out of the industrial action which is hammering its finances. some 33,000 workers on the us west coast have been off thejob since 13th september, demanding wage increases and pension reforms. the action has halted production of boeing's best—selling 737max jet amongst others, adding to an increasingly backed—up order book. in response, boeing has announced plans to raise some

$35 billion to plug the cash drain caused by the strikes, through share sales and new credit. last week, it said it will axe some 17,000 workers, around 10% of the workforce, to meet what the chief executive kelly 0rtberg described as boeing's new financial reality. 0ur north america business correspondent ritika gupta has the details. boeing workers staged a rally in seattle hoping it would pressure the plane—maker to raise the wage offer. hundreds of striking workers packed the main hall at union headquarters, with speakers from elected officials... management should be able to see the — management should be able to see the faces of the men and women — see the faces of the men and women in _ see the faces of the men and women in this room who deliver the production of those planes, and deliver a the production of those planes, and delivera fair the production of those planes, and deliver a fair wage. to the production of those planes, and deliver a fair wage.- and deliver a fair wage. to the union boss- — and deliver a fair wage. to the union boss. even _ and deliver a fair wage. to the union boss. even when - and deliver a fair wage. to the union boss. even when boeing received the _ union boss. even when boeing received the economics - union boss. even when boeing received the economics that i received the economics that they— received the economics that they demanded, _ received the economics that they demanded, they - received the economics that - they demanded, they squandered it with _ they demanded, they squandered it with stock — they demanded, they squandered it with stock buy— backs, - they demanded, they squandered it with stock buy— backs, and - it with stock buy— backs, and

sending _ it with stock buy— backs, and sending money— it with stock buy— backs, and sending money back - it with stock buy— backs, and sending money back to - it with stock buy— backs, and sending money back to the i sending money back to the shareholders. _ sending money back to the shareholders. let's- sending money back to the shareholders. let's not- sending money back to the - shareholders. let's not forget, it was— shareholders. let's not forget, it was boeing _ shareholders. let's not forget, it was boeing that _ shareholders. let's not forget, it was boeing that undermined i it was boeing that undermined its own— it was boeing that undermined its own manufacturing - it was boeing that undermined its own manufacturing systeml its own manufacturing system for short—term _ its own manufacturing system for short—term gains, - its own manufacturing system for short—term gains, right? i its own manufacturing system| for short—term gains, right? it for short—term gains, right? it was for short—term gains, right? was the largest rally the for short—term gains, right?- was the largest rally the union has held since this rite began last month, and a show of force comes a day after the us acting labour secretary flew to seattle to meet both sides in an attempt to break the deadlock. —— the strike began last month. tensions remain high especially after the announcement last week that the company will cut 17,000 jobs. boeing is trying to shore up its flagging financial position and announced it would offer up to $25 billion in stock and date offerings as well as a $10 billion credit agreement. for more, joining me now is independent aviation analyst anita mendiratta. this has become a bitter dispute, thousands may lose their jobs, dispute, thousands may lose theirjobs, how is it affecting boeing's operations and air travel more generally? it is

travel more generally? it is indeed a — travel more generally? it is indeed a bitter— travel more generally? it 3 indeed a bitter situation. i'm very pleased you have pulled back the lens on this. it's having a devastating impact on boeing as a company, as well as global aviation. we can't forget that. because ultimately, we don't have travel and trade globally without aviation, and we don't have aviation without boeing. it represents four out of ten commercial aircraft and is critical for cargo, commercial aircraft and is criticalfor cargo, defence, global security and aerospace. the entire ecosystem of of aviation impacted by what's happening on boeing and the west coast. b, happening on boeing and the west coast.— west coast. a lot of focus on the ceo's — west coast. a lot of focus on the ceo's leadership - west coast. a lot of focus on | the ceo's leadership through this crisis in particular, with so much else going on at boeing as well. what is their game plan and how do you think they are doing? it’s plan and how do you think they are doing?— are doing? it's an interesting situation- — are doing? it's an interesting situation. he _ are doing? it's an interesting situation. he is _ are doing? it's an interesting situation. he is a _ are doing? it's an interesting situation. he is a very - are doing? it's an interesting situation. he is a very brave | situation. he is a very brave man and came out of retirement to take on the job and soon we have a strike, which is not a

direct cause and effect. the system he walked into in terms of manufacturing, the issue of finance, culture on the ground at boeing, and the reputation of an iconic is nice brand was suffering badly before he walked in. the decision he has been making has been exemplary with crisis leadership. focusing on what he can control, bringing back a sense of vision and hope, making critical decisions, as painful as they are in the short—term, to mitigate the damage taking place and rebuild the organisation. vitally, he is visible, audible and owning the situation, and being accountable. so it is not the situation anyone would want to walk into, but he knew what he was going into, and boeing can take at least some degree of comfort in knowing they have a ceo that is absolutely on the front line in every single division, talking to people when it comes to negotiations, speaking to the faa directly,

speaking to the faa directly, speaking with the aerospace side of the business. every single aspect, kelly is taking under his wing.— single aspect, kelly is taking under his wing. boeing is known as a du0poly _ under his wing. boeing is known as a duopoly with _ under his wing. boeing is known as a duopoly with airbus, - under his wing. boeing is known as a duopoly with airbus, it - as a duopoly with airbus, it has a strong credit rating and is also known for advancement in cutting carbon emissions. are either of those two big parts of its reputation under threat now, the credit rating and the fight against climate change? and the fight against climate chan . e? ~ and the fight against climate chance? ~ ~' ., and the fight against climate chance? ~' ., h and the fight against climate chance? ~ ., �*, ., change? we know it's a challenge. _ change? we know it's a challenge. there - change? we know it's a challenge. there is - change? we know it's a challenge. there is a i change? we know it's a - challenge. there is a finance inquest in the last few days and that has been critical. production needs to continue. the heartbeat of boeing is the production of aircraft, and there is already a backlog of 4000 aircraft. but exactly as you say, importantly the future of sustainable aviation and the quest towards net zero 2050, boeing is at the forefront,

it's boeing is at the forefront, its aim for sustainable irradiation is relied on by the community and the airlines. it's about cutting emissions, fuel efficiency, managing sound. boeing is vital in that quest. what's important is to make sure we all work to protect boeing. the company, the regulators, the financiers, the regulators, the financiers, the entire travelling and trade community, and the future of aviation. we cannot do without boeing. importantly, aviation development takes years. the backlog is there, nothing can shift directly to airbus because they won't be able to meet additional orders until 2028, 2030, and these orders are about smarter aircraft that are about smarter aircraft that are much more working towards sustainable aviation in the future. it's invaluable, we cannot do without boeing. thank ou. to the uk now, as the bbc understands the chancellor rachel reeves is looking

to make tax rises and spending cuts of around £40 billion — that's around $52 billion — in this month's budget. that's significantly more than the fiscal black hole widely touted up until now of £22 billion. apparently, the 22 billion would only be enough to make public services stand still, suggesting much more would be needed to avoid real—terms cuts. so where's it all going to come from? the government has refused to rule out that businesses might have to pay more in national insurance. joining me now is fiona cincotta, senior market analyst at city index. how are businesses taking the news that they might have to foot the bill? i news that they might have to foot the bill?— foot the bill? i think it's a treat foot the bill? i think it's a great question. _ foot the bill? i think it's a great question. we - foot the bill? i think it's a great question. we do . foot the bill? i think it's a i great question. we do know foot the bill? i think it's a - great question. we do know that there needs to be a black hole filled, it does look like taxes are going to be forming the centrepiece of that, to protect government department and build

a buffer. different businesses are coming across with different responses. if this is the lesser of what could be much worse evils, but still a tax increase is a tax increase and it does put a burden on businesses. there is a very fine line that the chancellor will have to walk, because if you overburden businesses, that's going to have a detrimental effect on the economy obviously. 0ur detrimental effect on the economy obviously. our economy in the uk is made up by a lot of small businesses and medium—sized businesses, if they are put under too much pressure, obviously they are going to stop employing people and that's going to have a ripple effect on the economy, which will be against the growth that the labour government has said it is so desperately looking for. there is that balance, _ desperately looking for. there is that balance, because - desperately looking for. there is that balance, because they | is that balance, because they want to grow the economy and they are also very keen to encourage investment in the country as we have seen from

the recent investment summit. people looking to that budget date of october 30th, wondering if they will be tax rises elsewhere. how difficult is this conundrum, where are the government going to find that money? government going to find that mone ? �* . ., , government going to find that mone? ,m money? it's a very difficult challenge _ money? it's a very difficult challenge. they _ money? it's a very difficult challenge. they have - money? it's a very difficult challenge. they have been money? it's a very difficult - challenge. they have been very vocal, saying it will be a tough, painful budget. they have been very vocal without warning. they have said they will be certain areas protected, but it seems they are going to go more after businesses perhaps than after workers. interestingly, the cbi said they don't consider the measures to be a huge problem, as long as they are put together with other pro—business measures, for example reforming business rates or improving the apprenticeship scheme. so potentially there are ways to be going around this. there is a sense it will be more businesses, we have also heard

about capital gains tax, although the room of a 39% increase has been ruled out by the prime minister i believe. so still a lot of numbers being floated around, but it's a massive black hole. we also have rachel reeves, rumours she may be adjusting her golden rules to balance day—to—day spending with tax revenue, which would give her more room to borrow... so there are some little tweaks and adjustments. borrowing more, as you say, is potentially an option, but tapping on her shoulder is the imf, and they warned that rising debt levels need to be confronted now otherwise, they say, by 2030, global debt is proposed to rise 10% higher than pre—pandemic levels, so there is pressure to keep borrowing down. exactly, and the uk has — borrowing down. exactly, and the uk has been _ borrowing down. exactly, and the uk has been named - borrowing down. exactly, and the uk has been named by i borrowing down. exactly, and | the uk has been named by the imf, along with other countries such as italy and south africa,

as a country to be wary, as they could see debt levels continue to rise. the imf has said now is a good time to really address these issues, given we are seeing interest rates starting to fall. they suggest the government look at those fiscal policies in order to rein in debt levels. so if we do see that adjustment in the golden rule, that would be potentially going against what the imf are suggesting. fiona, thank yon _ staying in the uk, and something the government will be keenly watching — inflation. the latest numbers for september are due out in the next hour or so, with economists predicting the rate of price rises is due to drop from the latest reading of 2.2% in the year to august. good news for consumers and the bank of england as they hope to steer inflation to their 2% target. all of which will feed into the next big interest rate decision on november 7th. melanie baker is senior economist at royal london asset management.

what is driving inflation down, and how significant would it be if inflation dropped below 2% target? b, if inflation dropped below 296 tartet? �* ., ., if inflation dropped below 296 tartet? ., ., ., target? a lot of what will drive inflation _ target? a lot of what will drive inflation lower - target? a lot of what will drive inflation lower this | target? a lot of what will - drive inflation lower this time around is energy prices. how important is it? it's important, if it drops below target it is notable, but it's target it is notable, but its expected to rise above target again by the end of the year. in october we have energy bills increasing for households which will likely push it back above target again. if it will likely push it back above target again-— will likely push it back above target again. if it goes above tart et, target again. if it goes above target. peeple _ target again. if it goes above target, people will— target again. if it goes above target, people will be - target again. if it goes above | target, people will be looking at the bank of england's interest rate, cut to 5% in august, the first full for years, and having to speculate about what might happen in november. about what might happen in november-— about what might happen in november. ,., ., november. the important thing to 1527 00