u.s. federal reserve chair jerome palls. interest rates could rise at a slower pace at the same time the fed announces that some u.s. corporate debt has reached what it calls risky levels also the british government bails its estimates of the cost of drugs it doesn't look pretty a heart breaks it could shrink the u.k. economy by almost ten percent the bank of england also says a disorderly divorce would be catastrophic also coming up in delhi children learn how to run their own bank to protect homeless street kids from thieves and too big to slaughter winemakers escape becoming a tasty part of australia thriving beef industry. i'm christopher coburg good to have you with us the u.s. federal reserve a sounding the alarm it says historically high corporate debt and trade tensions are threatening the financial stability of the u.s. financial system and could cause asset prices to plummet and his first report on

the stability of the u.s. financial system the fed acknowledges that regulation brought in after the two thousand and eight financial crisis has made the banking system more resilient but it says increasingly aggressive risk taking could lead to more vulnerability. now in a speech earlier fed chief drone powell pointed out that the u.s. economy remained on track but headwinds were increasing the pace of raising interest rates thereby being a particularly delicate exercise in balancing risks because more interest rates are still low by historical standards and they remain just below the range of estimates of that level that would be neutral for the economy that is neither speeding up nor slowing down growth. for more let's cross over to our man on wall street to score to mr paul said interest rates were just below a neutral level and judging from investors reaction they are detecting

a slower pace of rising rates you know well i mean that was a big change of words because just in october jerome paul was saying that their level is actually far away from or below the neutral level and that hinted at as a much more aggressive action of the federal reserve being so now that much more different what we're hearing from pollard now still an interest rate increase at the next meeting or shortly before christmas is likely but maybe next year we might not see more interest rates what the market participants just a recently expected and their reaction on wall street was quite astonishing blue chips up by more than six hundred points of the dollar under quite some pressure so those remarks from paul they don't go down pretty well here on wall street quite an

uptick in stocks there indeed let's turn to the fed's warning about finances debility in light of a strong economy how significant are these risks. well i mean what we should not forget is that the federal reserve is not almighty and the fed old still does not know precisely what is happening in the future and fed chairman. seems to be very very of it when he was saying that we know things often turn out to be quite different from even the most the careful for cars sold things can change quickly and specially if you do look at the death of u.s. corporations but also consumers of the government itself and those remain on a highly elevated if not even a record level and that certainly could be a threat to the u.s. economy and looking ahead as court in new york thank you. the

u.k. leaving the european union with no deal would have devastating consequences for the british economy that's the consensus of both a government report and an analysis by the bank of england in any case britain would be poorer outside the block both reports suggest but a disorderly divorce what multiply the negative impact in two weeks from now british m.p.'s are set to vote on prime minister tories a maze of plan. a no deal bracks it would hit britain's economy hard the bank of england predicts dramatic consequences if that happens. by the end of twenty twenty three g.d.p. is more than ten percent lower in the disorderly scenario compared to that made twenty sixteen trillion the bank also said if the island nation has to leave the e.u. and a hard break said the pound could plummet twenty five percent against other major currencies that's a worst case scenario it says but possible if the country doesn't agree to

a deal even so it's still far from clear that theresa may will be able to push her agreement with the e.u. through a combative british parliament although she's doing all she can to give things a positive spin on what we see behind the analysis that we have published today and indeed the chancellor recognise this morning is that our deal is the best in available for jobs and our economy that allows us to all of the referendum and realise the opportunities of rights in the analysis carried out by the government also shows britain's economy will suffer even if the deal goes through so the big question is just how bad will the damage be if the deal is passed says the study the economic consequences will be much less drastic shortly before the vote on december eleventh breaks it remains as contentious as ever. the european union's climate chief called on the block to take the lead and aim for a net is zero greenhouse gas emissions by twenty fifty and it's climate strategy

published on wednesday key un talks on curbing global warming are beginning this weekend in poland last year saw worldwide c o two emissions going up a racing any progress gained since the paris climate accord. the united states may have pulled out of the paris climate accord but european commission climate chief miguel arias carney today said the bloc must lead by example at the climate talks in poland next week europe will be their was first major economy to go for let's just play twenty fifth we we must acknowledge something which is that you don't already because there was more of this just great i think you know. and within you get thirty roubles and then let your visitor got to guess we would get that misha's by forty five percent or it could be that the e.u. has now published its strategy setting out eight pathways to reducing emissions to which chart a course for europe becoming climate neutral by absorbing as much greenhouse gas as

it emits tanita says the strategy would also improve e.u. citizens quality of life by improving the issues of transportation and air pollution. in india's capital delhi kids living on the street are an every day side many sell plastic toys bottled water t. shirts to support themselves as good as they can most carry the little money they make with them at all times making them easy prey for thieves but now there's a new bank especially for street kids and that's run by children. shakes america's getting ready to open for business the fourteen year old is the manager of a children's bank one final look over the accounts before the customers are someone from the corner of the room where they've been doing their homework. i was chosen by the others to be branch manager for six months and it was

a proper vote i'm the best at math and that's why i got the job i've been trained up and had learned bookkeeping. a lot of people the project is run by an ngo and kids living in a delhi slum how to manage money. whenever they can they deposit a few rupees into their account when they turn sixteen they can apply for a loan from the organisation after the credit could be used to set up their own businesses or to take part in professional training. so they also study the how it is feasible and what the proposal itself this. sounds that it would be no implemented properly it has a voice and instead of the everything there is under the approved or something that is it also. next in line is fourteen year old priya she deposits twenty rupees that's the equivalent of about thirty cents for her a lot of money. i trust the bank because many children deposit their money

here their supervisors have a lot of experience i save my money so i can spend it sensibly in the future. korea has to work hard for the money she saves she sorts onions at a market child labor is illegal in india so officially priya is simply helping her mother the two of them earn four to five euros a day between them it's the family's only source of income and. these are the times i do this every day sometimes we get sent home because there are no onions it's often four or five in the afternoon before we get something to do. meanwhile in the bank shaikh samir and his colleague add up the day's deposits the money is transferred to a real bank account belonging to the ngo despite his current occupation shaikh has no aspiration to one day work in the world of finance. i want to become

a doctor a lot of people here can't afford medical care because they're so poor that's why i want to work in a hospital that treats people for free. and it's a long road ahead but shaikh samir is hoping the children's bank will help him realize his ambition. now an eye catching cattle herd for you know those aren't minuter cows surrounding their friends this is really a bovine he both his name is apparently knickers and the enormous deer is living near perth in western australia they are almost two metres high he weighs a massive one point four tons its owner said he was too big and heavy to go into the album so instead of becoming burgers and steak makers who is now also a social media star will see out his days in the paddock instead. and that is one bank that wraps up our show thanks for watching have

a successful day and see you're back. to me. in fighting for the place taking seriously in the world i want

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