here in the uk, governor andrew bailey warned that the u.s.lout could increase the risk of moral hazard. we will have live coverage of the testimony on the collapse this hour. >>> ubs ceo ralph hamers said the lender did not buy credit suisse only to close it. that is according to reuters which says it has seen an internal memo with the government backed cquisition is a growth opportunity for ubs. we have the stock trading higher today. 1.3%. we have scaled down some of the highs we got to last week. we got to above 20 swiss francs. we scaled back a lot last friday as the market comes to terms with the cheap price that ubs acquired credit suisse. >>> switching to european yields. we see normalization in the stock market and we see normalization in bond yields. the 10-year bund at 2.28. six points higher. almost back to where we were pre-credit suisse bailout. that is interesting. we've gone full circle with the 10-year bund at 3.44. italy, there are issues with the disbursement of the recovery funds. that is something investors will keep an ey

i think that is the message from andrew bailey.siness trust them? it is very difficult. _ will business trust them? it is very difficult. it _ will business trust them? it is very difficult. it has _ will business trust them? it 3 very difficult. it has been a hugely volatile time and certainly the war in ukraine was such a shock. it had not been factored in and the extent of how that affected inflation by projections before that. looking at where inflation is right now, particularly food inflation, 18.3% in the uk in the 12 months to february, really high. but that is expected to be that lift that we saw two temporary 4% and overall it is expected to be temporary, partly because of a shortage of salad on the shelf but also energy prices and wholesale prices have come down. that will start feeding into inflation figures after april so we are likely to see inflation dropped back quite considerably. i do think that that forecast is reasonably accurate but, of course, it is difficult to know because in certain parts of the economy, in

and the boe led by andrew bailey in this interview said they have to do more, they will. to a governor bailey said. he said he thinks inflation is going to peek and this is important, this is an anomaly. i think it will come back down. he said the will avoid recession. and that they are continuing to look past the turmoil. they assume they will be on good footing and by all accounts, they are. the most important thing is inflation right now. >> the philippines raised their cure to the highest since 2007. we talk about this tension of financial stability. clearly inflation is still in the driver seat. quick some countries are far less affected so far by this financial stability, but what is happening to u.s. banks, what happened to credit suisse in switzerland. the swiss went ahead and did their rate hike today. they are convinced they got things under control, this big merger, credit suisse and ubs. they made it clear they are fighting inflation and may have to continue to do so. they're also going for a rate hike today. there is a key rate up to 3%. they are not worried a

andrew bailey is talking about the fact that rates will go back to precrisis levels.ly, nymex crude, a big rally yesterday. banking fears easing some a --, it has come down. let's talk about deck -- tech. first round of 7000 job cuts. the move is a key part of a $5.5 million dating strive it announced in february. the wall street journal reports that disney has cut a division that was developing metaverse energies. joining us is alex. i have to be transparent, i didn't even realize that disney was working on a metaverse strategy. alex: the metaverse is almost -- it was the next big thing in the way that crypto and web three was the next big thing. all of a sudden, people are realizing it is not may be quite as big as artificial intelligence, which has really exploded and has very clear and obvious and straightforward applications. all of these projects which partly seemed perhaps for investors to say, we are doing the next thing, don't you worry, it didn't succeed in turning up the share price and is an overhead for a project that probably isn't going to yield any res

the british chancellor, jeremy hunt, has met the governor of the bank of england, andrew bailey, to discussollapse of silicon valley bank — which mostly financed tech start—ups. the director general of the bbc, tim davie, has apologised for the widespread disruption to bbc sports output on saturday but says he won't resign. a number of tv and radio programmes have been pulled from the schedules after presenters and pundits walked out in support of gary lineker. the former footballer was taken off this evening's match of the day programme — which he presents — for breaching the corporation's social media guidelines. tim davie spoke to our north america correspondent nomia iqbal. well, i'm very sorry for the disruption today. it's been a difficult day and i am sorry that audiences have been affected and they haven't got the programming. as a keen sports fan, i know like everyone, that to miss programming is a real blow and i am sorry about that. we are working very hard to resolve the situation and make sure that we get output back on air. how are you working to resolve the situation there? w

andrew bailey is very clear, inflation is too high and needs to be brought down. goods and services is rising. this chart demonstrates the inflation target of 2%, price spikes, currently10.4%, having a big impact on our pockets, the cost of energy bills, petrol pumps, and shopping baskets, cheese, milk, sugar, all much more expensive compared to last year. so far this has been driven by globalfactors, after covid, supply chain issues, the war in ukraine. andrew bailey is worried about domestic inflation, if businesses put up prices to cover costs, it could stay high for much longer. costs, it could stay high for much loner. , ., , costs, it could stay high for much loner. , . , ., ., longer. interest rates will have to no longer. interest rates will have to i o u . longer. interest rates will have to go uo further _ longer. interest rates will have to go up further and _ longer. interest rates will have to go up further and higher- longer. interest rates will have to go up further and higher inflation | go up further and higher inflation really— go up further and

tom: coming up, be a we governor andrew bailey signals a slowdown.ys rates will probably remain below the highest seen before the financial crisis. we will get more analysis next. this is bloomberg. ♪ >> we have a strong macro policy regime in this country. the bank is on the case in terms of securing financial stability. this is important for monetary policy because it means the npc is focused on returning inflation to target. tom: the bank of england governor suggesting u.k. rates will not be lifted back to the highs before the financial crisis. let's bring in leanne for more. is this a can't but the boe -- a hint that the boe may be near the end of its hiking cycle? >> a hint is exactly what it is. yesterday we saw bailey giving this speech at the london school of economics. it seemed to be what we could almost describe as upbeat. as he sat in th -- he said this could be the end of the hiking cycle that has been the quickest in three decades. he also said something i thought was important to point out, he reiterated that more tightening will be ne

interest rates are on the rise in the uk might well be the exception there and what andrew bailey wasmay well be that 496 is actually the eak. ~ �* ., ., , the peak. we're going to be lookin: the peak. we're going to be looking at — the peak. we're going to be looking at that _ the peak. we're going to be looking at that european i looking at that european situation in a moment. when andrew bailey says he is looking ahead, he says he needs to assess data before making the big decision. what will you be looking it?— the big decision. what will you be looking it? what the bank of encland be looking it? what the bank of england looks _ be looking it? what the bank of england looks at _ be looking it? what the bank of england looks at is _ be looking it? what the bank of england looks at is prices - be looking it? what the bank of england looks at is prices data i england looks at is prices data and employment data. our prices rising? the inflation rate is still way in excess of where they want to get to but its forecasts are that it's going to come down very quickly. the bank of england

andrew out to lunch. baileyhim so many times before, it was one of boris johnson's worst appointments. we need to somebody. he was a radical in the sense some of that understood breaking free of eu financial market regulation should actually have been boom time for the city. haven't had that. interestingly the remainers told us hundreds of thousands of jobs will be lost in services. absolutely none have richard asks me, do you believe in inheritance tax? richard asking me, do i believe in double taxation ? you know in double taxation? you know what's so awful about it? those that have got real money and financially plan ? don't pay financially plan? don't pay inheritance tax , the wealthy inheritance tax, the wealthy don't pay inheritance tax. it's now people living in semi—detached houses in the suburbs of london that are now over the threshold and the government will rake in more and more money through inheritance tax over the next few years. inheritance tax and follow up income tax . these were things income

andrew bailey economy.ior officials at the treasury committee. he's been giving evidence now to discuss it all. is this i mean there's i think knows a lot more about economic than andrew bailey our very own business and economics editor liam halligan. it does me no favours. what does he no favours. yeah. what does he mean? retirement mean? it's early retirement causing interest rates. causing and high interest rates. well there's there are well is there's there are various andrew bailey speech is going on it's a bit of an andrew bailey pr onslaught yesterday he gave a at the london school of economics in which he said that because the workforce has shrunk because the workforce has shrunk because a lot of people between age 50 and 60 haven't returned to work after the workforce has shrunk, said by about 130,000 people. it's not very much is less than half 1% of the workforce. but he's saying that's enough to have led to labour shortages, which has pushed up inflation. this is part of a trend some people are

andrew out to lunch. baileyhim so many times before, it was one of boris johnson's worst appointments. we need to somebody. he was a radical in the sense some of that understood breaking free of eu financial market regulation should actually have been boom time for the city. haven't had that. interestingly the remainers told us hundreds of thousands of jobs will be lost in services. absolutely none have richard asks me, do you believe in inheritance tax? richard asking me, do i believe in double taxation ? you know in double taxation? you know what's so awful about it? those that have got real money and financially plan ? don't pay financially plan? don't pay inheritance tax , the wealthy inheritance tax, the wealthy don't pay inheritance tax. it's now people living in semi—detached houses in the suburbs of london that are now over the threshold and the government will rake in more and more money through inheritance tax over the next few years. inheritance tax and follow up income tax . these were things income

the uk's chancellor, jeremy hunt, has met the governor of the bank of england, andrew bailey, to discuss collapse of silicon valley bank, which mostly financed tech start—ups. the german interior minister, is leading calls to tighten the country's gun ownership laws, after six people were shot dead in hamburg, on thursday. eight others were wounded in the attack on a group of jehovah's witnesses. next it's time for our world: my escape from afghanistan. in august 2021, the taliban shocked the world as they swept to power in afghanistan. it wasn't long before they began to crack down on the rights of women. last year, i met with activist tamana paryani, who'd been involved in a protest in kabul. after daring to raise her voice, the taliban came in the middle of the night to arrest her. although she was later released, she went into hiding. at the time, it was too dangerous for us to broadcast her testimony. now she has escaped and she's ready to tell her extraordinary story. kabul, june 2022. afghanistan is now the only country in the world where female education is forbidden. reports hav

andrew bailey kind of confirming market pricing but basically being agnostic on where rates go next. that is what is happening on the front end of the u.k. curve. here is the u.k. housing market. there is concern around persimmon, one of the u.k.'s largest house builders. the margin story stuck out, that being battered today. alix: those numbers were not good. in the u.s., a couple different threads we can pull at. part of this is going to be the ism data. we went to the lows of the session on that, so ism any factoring coming in not bad but it was really the prices paid that jumped over 50. the overall index, we have not seen that strength since august, so both of those weighing on the s&p because than the fed will have to do more. the other narrative is china. their manufacturing coming in very strong and you can see that reflected in the metals and mining sector. that could be earnings and lower cost, then you dig deeper and the worst performing stock in the s&p is an earning story. they are looking for first quarter sales to be dicey. that feels like a persimmon readthrough as we

do we need to rethink how far and fast andrew bailey and the npc are going to have to go this year?ane: i think markets are rethinking -- maybe all central banks -- given the market's attitude of what constitutes monetary policy in light of the last couple of weeks. what was already on the table for the bank of england, as it was for canada and rba, too is this issue of have they done enough? will they now pause? that is something the chief economist pill had mentioned a month or two ago as well. the issue of apostles on the table just because of those pipeline hikes, but then you have the much larger inflation print. the bank of england are still forecasting inflation to come down quite sharply this year. they saw the sharper or higher-than-expected cpi print as something more temporary. we have to see if that is true but we're still hoping to see inflation come down, so maybe a little more tightening, one more or so in the pipeline. but it is going to depend very much on the next inflation print. dani: you mentioned australia. we did get an inflation print this morning, decelerati

speaking to mps in the uk — governor andrew bailey — said it was "the fastest collapse from health tod said it may mean that banking rules need updating. meanwhile, senate lawmakers are gathering in capitol hill today, to discuss why silicon valley bank and signature bank collapsed. let's now cross to our business correspondent — michelle fleury — in new york. what are we expecting from the hearing? what are we expecting from the hearin: ? ,, ., ., hearing? similar to the uk, we will hearing? similar to the uk, we will hear from some _ hearing? similar to the uk, we will hear from some of _ hearing? similar to the uk, we will hear from some of the _ hearing? similar to the uk, we will hear from some of the key - hearing? similar to the uk, we will. hear from some of the key regulators in the usa, so there will be representatives from the fdic, from the federal reserve, and also from the federal reserve, and also from the treasury department, the major agencies that have oversights of the bank. we have a preview of what you are likely to hear from the perspective of lawmakers and the c

the big mistake was andrew bailey, who is tended to shoot his mouth off, a bit. in terms of his views. so, this will be the deepest recession. i don't know where he got that from. this is going to -- is there is a recession, it will be a mark recession. >> andrew? i want to jump in on that. in order to know the answer, we have to look at the banking sector. they were thankfully not involved in the last few weeks, and do you think we are going to see it reverberate. there is material impact on credit conditions, and are they immune from that? >> another thing that is a severe blowback is the financial sector is quite robust. a lot of metrics were put in place in the making them. on the mpc, they will protect the u.k. financial sector. if anything, it is in the decade that follows, a financial crisis of 2007 to thousand nine. the worry was that those measures have been too severe. so, i think the u.k. banking secretary is in pretty good shape, and the way in which we've dealt with this silicon valley bank which no one had ever heard of before has illustrated that.

and prosecutor attorneys should to that. >> attorney general andrew bailey thank you for joining us.rginia public school reportedly bars white andsasian students from a college prep program, a school in same district faces an ag probe for withholding national merit scholarships to boost equity. jimmy failla coming up next on linda sc little "the evening edit" but first we check in with dagen and sean. >> un unpack the lab leak theories and two pandemics, covid and then fentanyl. what is biden doing about it and kellyanne conway on who might be running for republican no nomination. why would youngkin get into it. and owens on banning biological males from playing in women's sport college level and tammy bruce on the crime crisis at the top of the hour. by helping you create a comprehensive wealth plan, with the right balance of risk and reward. doors were meant to be opened. covid is still out there, and so are you. and you could be out there with fading protection but an updated vaccine restores your protection so you can keep doing you. there's a different way to treat hiv. it's eve

andrew bailey who is the governor of the boe said inflation has been higher than they thought, but it looks like it will peak and come down. let's listen. >> the strong actions we have taken ensure that americans' deposits are safe. >> andrew bailey said that he expects it to be the peak in inflation. he does not expect the economy to go into recession. there are a lot of tailwinds facing the united kingdom. the hops let the vote 7-2 on this. -- the hawks led the vote 7-2 on this. >> we will see how things go. kathleen hays there. let's bring in simon england over at nuveen. you have been surveying a lot of your institutional investors all around the world. this is dating back to last year around october or november. before china came out of covid zero, before the banking collapse. has much changed? >> the actual survey took place in november 2022. it is the third year of the survey. a hundred institutions across the globe, north america, and, asia pacific. we are talking to these institutions about why is there long-term focus. so these immediate market movements, guests, certainly a

missouri attorney general andrew bailey is joining us now. thanks very much for joining us. why have almost 12,000 cases been dismissed under gardner? >> well, it's because the circuit attorney is unlawfully refusing to do her job, instead of protecting victims, she's creating more victims. this is about the rule of law for me and restoring justice for the victims of crime and the people of st. louis, and we filed action to have her removed from office for her unlawful refusal to do her job. >> sandra: she's calling that a power grab. what's your response? >> that's your ridiculous. eight month backlog for warrants by the st. louis metropolitan police department, consented to ridiculously low bonds to put violent offenders on the streets, she's going to be held accountable, it's time for her to go, we are going to use every legal mechanism to make that happen. we filed an amended petition, 121 pages long that include additional facts that have come to light since our initial filing. there's been a well spring of individuals who have come forward with a story to tell, victims

missouri attorney general andrew bailey is one of the state republican leaders urging the court to kill the program. >> as someone who paid for my school in blood, sweat, and tears, and service to my nation, that's an issue near and dear to my heart. i'm confident the court will reach the right decision. >> reporter: confidence bolstered during arguments as conservative justices seem skeptical that president biden could single-handedly forgive student debt for 95% of borrowers. >> i think most casual observers would say if you're going to give up that much amount of money, if you're going to affect the obligations of that many americans on a subject of great controversy they would think that's something for congress to act on. >> reporter: liberal justices said the law gave the administration power to act during national emergencies like covid. >> there's a -- 50 million students who are -- will benefit from this who today will struggle. >> reporter: but the republican leaders fighting to stop the biden plan say all that debt cancelation will cost their states money. a decision in this

andrew bailey, the know.n is going to drop really sharply pretty soon. andrew been talking a lot andrew bailey been talking a lot in recent days . the governor of in recent days. the governor of the bank england . in recent days. the governor of the bank england. i'm the bank of england. i'm starting think of as the starting to think of him as the me governor of the bank of england . he wants to talk about england. he wants to talk about all other causes of all the other causes of inflation the fact inflation rather than the fact that the of england so that the bank of england was so slow actually raising slow to actually start raising interest there's of interest. look, there's lots of reasons behind this. you're right. cane, beet right. sugar cane, sugar beet crops around the world haven't been particularly good over the last prices still last year. fuel prices are still high . that means transportation high. that means transportation costs , food are still high. costs for, food are still high. and what and

the uk's chancellor, jeremy hunt, has met the governor of the bank of england, andrew bailey, to discusshe collapse of silicon valley bank, which mostly financed tech start—ups. the german interior minister is leading calls to tighten the country's gun ownership laws, after six people were shot dead in hamburg, on thursday. eight others were wounded in the attack on a group of jehovah's witnesses. you are watching bbc news. now — the chef, the model & the missing millions. a global pandemic and a national emergency. from this evening, i must give the british people a very simple instruction. you must stay at home. an economy grinding to a halt. companies on the brink. well, today we announced a brand new loan scheme for the smaller businesses. rishi sunak, then chancellor to the rescue. rishi actually stood up and said, this is the bounce back loan scheme. there'll be no credit checks. it was like jackpot for a lot of people. a godsend for business. a gold mine for criminals. £100,000 holidays, eating in the best restaurants, the flashiest, fastest cars, yachts, everything that most peop

money tends to follow so i think, as i say, that is why the government of the bank of england andrew baileyne very clean that there is something in place within hours really to be sure that there is something in place within hours really to reassure the markets the next week.— within hours really to reassure the markets the next week. you'll come back if there — markets the next week. you'll come back if there is _ markets the next week. you'll come back if there is any _ markets the next week. you'll come back if there is any further - markets the next week. you'll come back if there is any further news. . back if there is any further news. mike ashdown, a business correspondent. former us president donald trump says the former us president, donald trump, says he expects to be arrested on tuesday and has called on his supporters to protest. in a post on his own social media platform, he claimed to have seen leaks from the manhattan district attorney's office which is yet to comment. mr trump is accused of paying hush money to an alleged mistress. here's our north america correspondent davi

missouri attorney general andrew bailey is one of the state republican leaders urging the court to killpaid for my school in blood, sweat, and tears and service to my nation, that's an issue that's near and dear to my heart. i'm confident the court will reach the right decision. >> reporter: a confidence that was bolstered during three hours of arguments as conservative justices seemed skeptical that president biden could single-handedly forgive student debt for 95% of borrowers. >> i think most casual observers would say if you're going to give up that much amount of money, if you're going to affect the obligations of that many americans on a subject that's of great controversy, they would think that's something for congress to act on. >> reporter: but liberal justices said the law gave the administration power to act during national emergencies like covid. >> there's 50 million students who are -- will benefit from this, who today will struggle. >> reporter: but the republican leaders who are fighting to stop the biden plan say all that debt cancellation will cost their states money.

the uk's chancellor, jeremy hunt, has met the governor of the bank of england, andrew bailey, to discuss collapse of silicon valley bank which mostly financed tech start—ups. the german interior minister is leading calls to tighten the country's gun ownership laws after six people and an unborn baby were shot dead in hamburg on thursday. eight others were wounded in the attack on a group of jehovah's witnesses. you are watching bbc news. now, big cases: homegrown terrorist. screaming and shouting. phone call: i'm at the men arena in manchester, - there's a bomb just gone off in the foyer. phone call: a very loud bang go off, i evacuating the station immediately. i definitely a bomb. people injured, at least 20 casualties. 10.31, may 22nd, 2017. least 20 casualties. salman abedi detonates a bomb in the city room entrance to the manchester arena. still got mass casualties, it does look like it has i been like a nail bomb. there's bolts and shrapnel everywhere inside. - an area packed full of happy children and their families leaving the ariana grande concert. 22 people are killed. hundreds

andrew bailey said that increasing the cost _ andrew bailey said that increasing the cost of goods andving even further and would hurt people who are the least _ and would hurt people who are the least lala — and would hurt people who are the least lala. for and would hurt people who are the least lala. ., ., ., , , least lala. for more on this, my colleague _ least lala. for more on this, my colleague has — least lala. for more on this, my colleague has been _ least lala. for more on this, my colleague has been talking - least lala. for more on this, my colleague has been talking to i least lala. for more on this, my| colleague has been talking to our business correspondent. abet colleague has been talking to our business correspondent.- business correspondent. at the moment, business correspondent. at the moment. it's — business correspondent. at the moment, it's about _ business correspondent. at the moment, it's about 10.4%. - business correspondent. at the moment, it's about 10.4%. the business correspondent. at the - moment, it's about 10.496. the bank moment, it's about 10.4%. t

missouri attorney general andrew bailey called the plan unfair. it's illegal. it's unconstitutional. it's wrong for working families across the nation that any benefits program, they're going to be others outside the context of that particular program who aren't getting the benefit. and despite the skepticism from some conservative justices, the white house says they still expect a favorable outcome. >> reyna. >> all right, thanks for that update. well, still to come on the kron, 4 morning news, we're talking about >> and they're going to soon be receiving whole lot of money. it's to improve their terminals. we'll have details on that af >> well, the san francisco airport is set to receive 31 million dollars to improve its terminal. it's all a part of a program by the faa to improve terminals across the country. well, the faa says the funds are going to help meet the growing demand for air travel and also help get travelers in airports more quickly. however, some experts say it's just not enough money. >> this seems like a really nice big number that the admini

we've got andrew bailey measure.low considerably . that's to slow considerably. that's a phrase used by the end of the yeah phrase used by the end of the year. and for things to get a little bit easier. so do you believe that would be a sensible maybe to get you to the end of this this year ? well the price this this year? well the price cap for industry is about to end.so cap for industry is about to end. so our utilities are about to go up. i don't see a lot of our prices coming back and then the reality is that that may and many other businesses not just in hospitality have had to have been armed into taking two year contracts for utilities . so even contracts for utilities. so even if the utility prices come back considerably , we're talking considerably, we're talking contracts we can't get out of it . yeah. so a short to mid term solution and you know and my expertise is most times would to be help us with the vat and it will it will give our industry a chance of surviving. yeah just looking at the other figure

british chancellor, the finance minister, jeremy hunt, has met the governor of the bank of england, andrew baileyof silicon valley bank, which mostly financed tech start—ups. more than 200 companies in the uk had asked ministers to intervene. it's the biggest failure of a us bank since the 2008 financial crisis. well, earlier, ispoke to fintech influencer and commentator theo lau. i asked her what impact the collapse of svb bank was having on the fintech and start—up industry. i think at the very moment, the impact is huge. chaos is the word i would use to describe it and it's not pretty. you think about the thousands of start—ups, they finance, i think the number is about 44% that went public last year, and they had relationships with most of the start—ups, notjust fintech but health tech companies in the us. they are the name in the game, and they are very tech start—up friendly, especially the ones that big banks are not interested in. so the repercussions is enormous, how do they make payroll and what is the impact on employees who are not able to get their money? one of the situations in the

missouri attorney general andrew bailey is one of the state republican leaders urging the court to killy school in blood, sweat, and tears in service to my nation, that's an issue that is near and dear to my heart. i am confident the court will reach the right decision. >> reporter: a confidence that was bolstered during three hours of arguments, as conservative justices seemed skeptical that president biden could single-handedly forgive student debt for 95% of borrowers. >> i think most casual observers would say, if you're going to give up that much amount of money, if you're going to affect the obligations of that many americans on a subject that is of great controversy, they would think that's something for congress to act on. >> reporter: but liberal justices said the law gave the administration power to act during national emergencies like covid. >> there's 50 million students who will benefit from this, who today will struggle. >> reporter: but the republican leaders who are fighting to stop the biden plan say all of that debt cancellation will cost their states money. a decision

british chancellor, the finance minister, jeremy hunt, has met the governor of the bank of england, andrew bailey silicon valley bank, which mostly financed tech start—ups. more than 200 companies in the uk had asked ministers to intervene. it's the biggest failure of a us bank since the 2008 financial crisis. earlier, i spoke to fintech influencerjim marous, host of the banking transformed podcast. i asked him whether we should worry that other similar banks may be trouble. it depends on how you look at it. if you are looking at financial institutions possibly failing, it mayjust be a one—off at this point. the real ripple effect is going to be felt in the impact not just on fintechs but on all start—ups in the technology field. silicon valley bank in the health care field and financial field, but if we look at venture capital money, money needed by start—ups to fund their innovation, i think that's where you are really going to find the ripple effect. what is going to happen is funding's going to become even more difficult than it had already become in the last nine months and this will have an

but the governor, andrew bailey , came governor, andrew bailey, came out this week blaming else for inflationith early retirees years and he's also blamed pay rises for inflation and told people not to ask for a pay rises. and he's told businesses not to put their pnces told businesses not to put their prices up. he seems to be blaming the inflation that we have on everything other than the bank of england's monetary policy . and it's worth policy. and it's worth remembering that things like pay rises symptom of inflation rises are a symptom of inflation rather than the cause. so it time that the governor and the bank responsibility for not bank took responsibility for not changing monetary policy and increasing interest rates earlier . so increasing interest rates earlier. so who increasing interest rates earlier . so who better to have earlier. so who better to have with possibly to be more defensive of the bank than i am then the distinguished economist, mr. roger bootle . economist, mr. roger bootle. rogen economist, mr. roger bootle. roger, thank you for coming in. to what extent do you

andrew bailey said that increasing the cost of goods and services could push the cost of living evenurt the least well—off. our business correspondent marc ashdownjoins me. what has he been saying? he is here that inflation — what has he been saying? he is here that inflation is _ what has he been saying? he is here that inflation is too _ what has he been saying? he is here that inflation is too high _ what has he been saying? he is here that inflation is too high and - what has he been saying? he is here that inflation is too high and needs i that inflation is too high and needs to be brought down. it is the pace at which the prices of goods and services is rising. at the moment, it is at about 10.4%. the bank wants it is at about 10.4%. the bank wants it to be at 2%. you see the target there. we have had that spike, it has gone up hugely in the past year and that is impacting our pockets and that is impacting our pockets and our energy bills and when we fill up our cars. things like cheese, milk, sugar, have gone up, double digit rises for many. this has been driven by global fact

the warning to business from the bank of england's governor, andrew bailey. but what do they

the british chancellor, jeremy hunt, has met the governor of the bank of england, andrew bailey, to discusstly financed tech start—ups. more than 200 companies in the uk had asked ministers to intervene. it's the biggest failure of a us bank since the 2008 financial crisis. sean hundtoft, ceo of solve finance who is in new york and was a client with silicon valley bank tells us why the california regulator stepped in so quickly. i might be the only start—up founder with a phd in the study of financial crises. i think the california regulator acted for the former reason, if anything, contagion is going to be worse, so with the last great financial crisis we learned that we should not have let lehman fail because then you have spill—over effects, people start asking questions about their counterparties, that interbank lending market seized up and failed back in 2008, this time it would probably i imagine be worse, and we have already seen the impact on friday, there were market impacts on bonds, us treasury went up, mortgage bonds at silicon valley bank went down, people started asking questi

talk us through what is going through the mind of andrew bailey right now and the team on the monetaryesterday's inflation numbers were not news and it implies that there are specific issues in the uk that other economies in europe and the us are not facing. in other economies in europe and the us are not facing.- the us are not facing. in some wa s the us are not facing. in some ways the _ the us are not facing. in some ways the uk — the us are not facing. in some ways the uk has _ the us are not facing. in some ways the uk has similar - the us are not facing. in somej ways the uk has similar issues to the usjust ways the uk has similar issues to the us just on a larger scale. the uk economy is overheating and that is even though it is not really grown in the last few years. the reason for that is that the uk has suffered a labour supply shortage of the workforce in the uk is now much smaller than it used to be and that means the economy is overheating even though it is not growing. so the bank faces a difficult choice of slowing the economy causing a recession or facing a continued o

the uk chancellor, jeremy hunt, has been meeting the governor of the bank of england, andrew bailey. there is not a systemic risk to the financial system, so people should be reassured by that. there is a serious risk to some of our most promising companies in technology and life sciences. the prime minister, i, and the governor of the bank of england were up late last night, we've been working through the weekend to come up with a solution. of course, what mr hunt wanted to talk about when he appeared on the bbc earlier on sunday was the uk budget, which he'll present this week. his stated aims — to help more people get back into work, and offer more help with childcare costs for those on universal credit and for people with disabilities. there are an estimated 10 million people under the age of 65 in the uk who are not in employment. much more about that on our website — and we will of course bring it to you live, this coming wednesday, with our team of experts breaking down exactly what it means. led to's move back to the silicon valley bank. that is having a big impact on many st

andrew bailey said before the financial turmoil began, don't assume we are going to hike rates again. the inflation print has swung it and we will get a hike today, but i think we are at the end. i think that is it then. tom: you touched on the banking term. we have had tightness in the financial conditions in the u.s. do you have enough data at hand to make an assessment as to what extent financial conditions will be tightened as a result of the fallout in the u.k.? >> i think it is really hard to say because it depends how long the turmoil lasts. a little bit more risk aversion toward banks. how banks take that risk aversion and reduce lending or are a bit more cautious about lending. in theory, that does the central banks work for them. if you have a big rebound, and that might be quite limited. at the same time, you have seen swap rates come down which is the opposite. you have to wait and see what things like the credit conditions tell us and bank lending more generally, about how much work the market turmoil has done and how much those inflation pressures are still in the system

interesting l that the chancellor and governor of the bank of england, andrew bailey, met today.poken to firms affected, the likes of moon pig card less. hello fresh all funded by the bank and they have been hosting a roundtable with industry figures to reassure them and run through the worries they face. they hinted that they are aware of issues. a very much just just—in—time industry and they rely on cash flow. potentially, depending on cash flow. potentially, depending on what comes out of that meeting, could there be something more to see? the treasury itself reiterated to be bank's message that this is a very specific issue to silicon valley bank and as far as they are concerned, the uk banking industry remains strong and resilient. thank ou ve remains strong and resilient. thank you very much- _ thousands of protesters have gathered in a park in the hague, to oppose government plans to limit nitrogen emissions. the netherlands is believed to be a nitrogen hotspot with large numbers of livestock and heavy use of fertilisers. dutch farmers fear the new policy will spell the e

british chancellor, the finance minister, jeremy hunt, has met the governor of the bank of england, andrew baileyon valley bank, which mostly financed tech start—ups. more than 200 companies in the uk had asked ministers to intervene. it's the biggest failure of a us bank since the 2008 financial crisis. we can now speak to fintech influencer and commentator theo lau, who's also founder of unconventional ventures, a tech consulting firm. thank you for being with us. let's first talk about your expertise in tech start—ups. what impact is the collapse of svb having on the fintech industry and start—ups? i svb having on the fintech industry and start-ups? i think at the very _ industry and start-ups? i think at the very moment, _ industry and start-ups? i think at the very moment, the - industry and start-ups? i think. at the very moment, the impact is huge. chaos is the word i would used to describe it and it's not pretty. you think about the thousands of start—ups, the finance, i think the number is about 44% that went public last year had relationships with most of the start—ups, notjust in tech

british chancellor, the finance minister, jeremy hunt, has met the governor of the bank of england, andrew baileyced tech start—ups. more than 200 companies in the uk had asked ministers to intervene. it's the biggest failure of a us bank since the 2008 financial crisis. the chancellor of the exchequerjeremy hunt offered some reassurance. the governor of the bank of england has said that there is not a systematic risk to the financial system, so people should be reassured by that. there is a serious risk to some of our most promising companies, in technology, and life sciences, the prime minister, the governor of the bank of england were up late last night. we have been working through the weekend, to come up with a solution. the italian coastguard says it has rescued more than 1200 migrants in three separate operations from boats in the mediterranean sea. the operations come almost two weeks after a deadly shipwreck involving migrants off the calabrian coast. stephanie prentice is following the story: the italian coastguard responded to calls from other boats in the waters off the south coast, s

british chancellor, the finance ministerjeremy hunt, has met the governor of the bank of england, andrew baileyinanced tech start—ups. more than 200 companies in the uk had asked ministers to intervene. it's the biggest failure of a us bank since the 2008 financial crisis. the chancellor of the exchequerjeremy hunt offered some reassurance. the governor of the bank of england has said that there is not a systemic risk to the financial system, so people should be reassured by that. there is a serious risk to some of our most promising companies in technology and life sciences. the prime minister, i, and the governor of the bank of england were up late last night, we've been working through the weekend to come up with a solution. let's get some of the day's other news. hundreds of thousands of israelis have taken part in the latest protest against government plans to overhaul the judicial system. opponents of the reforms say they're a threat to israel's democracy. supporters of the laws say they will make the supreme court more accountable. the authorities in the us state of texas have advised am

chancellor — the finance minister — jeremy hunt, has met the governor of the bank of england, andrew bailey asked ministers to intervene. it's the biggest failure of a us bank since the 2008 financial crisis. let's get some of the day's other news hundreds of thousands of israelis have taken part in the latest protest against government plans to overhaul the judicial system. opponents of the reforms say they're a threat to israel's democracy. supporters of the laws say they will make the supreme court more accountable. the coast of central mozambique is being battered by one of the strongest storms ever recorded in the southern hemisphere. cyclone freddy is hitting the country for the second time in a fortnight — one man was reported killed when his house collapsed. the authorities in the us state of texas have advised american citizens against travel to mexico during the spring break for security reasons. the texas department of public safety said that drug cartel violence represented a significant threat for anyone crossing into mexico it's the biggest night of the year for the film indus

the uk chancellorjeremy hunt, has met the governor of the bank of england, andrew bailey, to discussnanced tech start—ups. more than 200 companies in the uk had asked ministers to intervene. it's the biggest failure of a us bank since the 2008 financial crisis. the us treasury secretary janet yellen says depositers don't have to worry about losing access to their money and a wide range of options are being considered for silicon valley bank. let's hearfrom uk chancellor jeremy hunt who has also offered some reassurance. the governor of the bank of england has said that there is not a systemic risk to the financial system, so people should be reassured by that. there is a serious risk to some of our most promising companies in technology and life sciences. the prime minister, i, and the governor of the bank of england were up late last night, we've been working through the weekend to come up with a solution. uk prime minister rishi sunak is heading to the us to meet president biden and the australian prime minister anthony albanese. it's expected the meetings in san diego will agree t

governore1 andrew bailey certaiy has his work cut out and does the policye1 committee as well. >> arabilen attack by a cyber criminal group. we are just getting initial headlines through here. it does appear that a cyber criminal group have made claims about having data related to certain records processed by the payrollxd services team in januy of 2023. at this e1stage, it seems rio i not giving us a very full picture. it may also be that they are investigating themselá the extensive nature of the data attack. the cybere1 events.e1qp information held hostage. rio saying none ofxd the record have been released from the internalw3e1 memo. they arer what would you gaine1e1 from th payroll unless it is a paye1 pa theyq are receiving? >> the data you can sellÑi on t dark web with.e1 unfortunately this data can bee used for othere1çóe1 nefariouse purposes. just something to be aware of as we continue to watch the market. >>> whe with we cnom >ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or mor