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now some of the details, charles michel the president, ursula von der leyen and emmanuel macron, thoseey state companies, including defence. emmanuel macron says he is going to offer 300 million euros of aid to ukraine and military equipment. he also went on to say europe is notjust a market of consumers but must be a power with energy, defence and sovereignty. and he said that mr putin wants to bring us back to an age of empires and also confrontations. ursula von der leyen says vladimir putin must and will fail. we will continue covering this on bbc news. thank you for watching. hello there. we're ending the working week on a largely fine and settled note, thanks to a ridge of high pressure. the winds and showers continue to ease down during the overnight period. it's a chilly start to friday morning but there will be a lot of sunshine around and it'll feel a little bit warmer than it did yesterday, too. now, here's the ridge of high pressure pushing in from the west. you can see fewer isobars, so lighter winds. this weather front, though, may bring more cloud northern ireland, weste

the european council president charles michelle has said that the you will adopt sanctions against russia, and that these will be agreed to at an emergency summit to be held tonight. the penalties will be we understand massive and severe and have consequences for moscow . he issued a joint statement with the head of the european commission, and in that statement, the to lead to say that russia's unprecedented military aggression was unprovoked and unjustified. it is grossly violated international law and it has undermined to appear and global security and stability. the european commission chief of funding in has said that the you will impose sanctions primarily against those sectors of the russian economy that will primarily be involved in this military action. and that they will block access to key technologies and markets. take a listen. men and children are dying of fear for their lives. we condemned this barbaric attack and the cynical arguments to justify it. it is president putin was bringing war back to his europe. we're facing an unprecedented act of aggression by the russian lea

since we have been following from the european council president charles michelle, he has urged bela worth not to follow russia. the british prime minister boys johnson has given an address in which he has labeled putin 8 to quote dictator. he says that he vowed to in the barbaric war by supporting ukraine militarily. he's also promised to quote, a massive package gain of sanctions in coordination with his allies, saying that this will hubble the russian economy. and johnson also saying to, quote, must cease dependence on russian oil and gas that for too long has given puting his grip on waste. in politics here in germany, the chancellor will have shalt, has said that there is no justification for this war. he has called it to quote putin's war he treated, that putin is bringing suffering and destruction upon his immediate neighbors and is endangering the lives of countless innocent people. germany is meanwhile preparing for refugees that might be displaced by this war. and it is also preparing for any kind of cyber attacks. frances president, manuel macross has given an address to t

this comes as the european council president, charles michelle has said that the you will swiftly adopt fresh sanctions against russia and that these measures will include an emergency summit that will be held to night. the penalties will be massive and severe consequences on moscow. he has issued a joint statement with the head of the european commission in which both leaders condemned russia in the strongest possible terms. the statement says that russia has launched an unprecedented military aggression against ukraine. that was provoked and unjustified that russia grossly violating international law. this undermines european and global security and stability, and they call on russia to needed me says the hostilities. the european commission chief has said that the will impose sanctions that are going to affect the strategic sectors of the russian economy. that they will block access to key technologies and market. this is what she had to say. man and children are dying of fear for their life. we condemned this barbaric attack and the cynical arguments to justify it. it is, president

well, as you have been watching there, that press conference charles michelle, president of the eu council say that president putin must and will fail. we will continue covering that. welcome to bbc news. leaving their lives behind — the un says around 100,000 in the last few minutes, the eu says it is imposing severe sanctions on russia, targeting its financial, energy and transport sectors. as russia's invasion enters its second stake in says 137 of its citizens have been killed. —— second day. leaving their lives behind — the un says around 100,000 ukrainians have fled the country and urges its neighbours to keep borders open. russians take to the streets of more than 50 cities to protest their government's move, a police crackdown sees almost 2,000 arrests.

joining us, professor wilfred reilly, shemeka michelle, charles, let me start with you.here are we at with race relations? >> we made obviously great journeys. they don't talk about it enough. he has a high school student who said they are problem with black history month is they only talk about the negatives. every year they teach her with martin luther king, rosa parks, malcolm x. >> what is the history you have lived? >> it's great to look at history. the way to move things forward is to see how far we have come. maybe we have a long way to go. but we are certainly not where we used to be. brian: the last few years the george floyd riots, some people say behave gone backwards. the police officer is in jail. others may follow. a lot of people see that and say we have gone backwards. do you feel that way? >> i think there is a difference between perception and reality. this is important. this is one of the things i actually studied professionally. if you look at the basic questions we use in my field, if you object to a boss or lover of a different race. the u.s.a. is o

charles: right and of course michelle, those names have done extraordinarily well this year if you lookhe growth names which can be sort of mercurial from time to time they have been hit the hardest and yet you also know as a contrarian the markets do run a rally at times when you say golly, everything seems to be against them, they call it climbing a wall of worry. do you see the opportunity maybe where the market starts to look six months out and acts now? >> well, the market is always forward-looking but let's just get a little bit more specific here. we have been looking at the small caps since november when they started to show some signs of wear and tear, and that was a great clue that we were going to see a downturn, and of course the catalyst happened and it's the old technical versus fundamentals, what comes first, but now, we have a spectacular event happening here, just when this pessimism really peaked, and we could have not only have seen the bottom that we saw in 2021 in the small caps at around the 190 level but we had the january low tested for like a nanosecond this mor

- charles: you are one of the world's greatest economists they would have a job at disney writing these scripts because i love, it will end happily ever after. i got less than a minute though, michellenormalization, francis mentioned it. mersk, giant shipping company, mentioned it yesterday, second half will return to normalization, do you see that as well? >> i'm not quite as nervous about the second half growth story. we still have growth running close to 3% in the second half of the year. so coming off of some of the numbers we've seen but still above trend. i actually think inflation will come down. i still think we'll end the year with inflation perhaps 3 1/2 to 4%. so i agree the fed maybe won't end up doing as much as the market is pricing in today. they will front-load it, slow down maybe the second half of the year but i think we're probably in for five rate hikes. charles: ladies, i thank you. i was blessed to have two of the most brilliant women out there. economists. forget about gender. thank you very much. appreciate it. i want to bring in from tend macro, cio don luskin. don i want to start with the gulf, giant gulf between rate inflation, we got the chart on the seen