and our economics editor faisal islam joins me now. several strands of really serious news.ds of really serious news. just how bad is it? yes, it's re news. just how bad is it? yes, it's pretty rare — news. just how bad is it? yes, it's pretty rare for _ news. just how bad is it? yes, it's pretty rare for the _ news. just how bad is it? yes, it's pretty rare for the bank _ news. just how bad is it? yes, it's pretty rare for the bank of - news. just how bad is it? yes, it's| pretty rare for the bank of england to pre—emptively predict a recession in years gone by bank of england governors have been reluctant to say the word recession, but today, andrew bailey and his team predicted a full fat recession lasting 15 months. similar in length to the great financial crisis, the last recession. not as deep as the period when we nearly lost half the banking system. more similar to 1990 style recession. the difference being you have this recession at the same time as inflation reaching 12 or i3%, at exactly the same time, and that is deeply problematic for policymakers because some o

faisal islam, bbc news. now to bollywood, and tossing away the old adage don't mess with a classic.nd the world. but an indian version, starring the superstar aamir khan, isjust about to be released. the movie, laal singh chaddha, follows very similar themes of a simple message of kindness, through the characters' relationships and friendships weaving through key chapters of history. aamir khan, who also produced the film told the bbc about remaking a classic. i had no intentions of remaking forrest gump. it's a film i've seen in the 90s and loved it and it just stayed with me. but this happened quite by accident, a friend of mine who is an actor, he and i were discussing films one night and he said what your favourite film? and i said one of them is forrest gump. and we ended the night and i forgot about it and then two weeks later he called up and say, i've got a script for you. i was a bit surprised, i said you don't write, and he said ijust give it a shot. isaid 0k. he said last few week i have been writing a script and i said which one is that — i've written a version of forres

our economics editor faisal islam reports.e, with little sign of an end, hitting every household in the country, eventually the entire economy too will actually begin to shrink, a recession now predicted for britain. at the bank of england the governor presented the grim news with troubling charts, almost all heading in the wrong direction... gdp growth in the uk has slowed and the economy is now forecast to enter recession later this year. ..alongside the announcement of a bumper rise in interest rates. just explain simply to somebody at home who is facing £300 a month energy bills why their mortgage gusts have to go up? if we don't act now — and i realise how difficult this is, i realise particularly for those on lower incomes, particularly those with higher borrowing gusts — but if we don't act inflation ——costs will become more embedded, it will get worse and we'll have to raise interest rates by more, and that — we have to act to stop that. so interest rates are going up, prices are inflating and the economy in general is

faisal islam, bbc news.gency in the united states. over the past two months the uss confirmed over a thousand cases, more than any other country. today's decision will release federal resources for fighting the outbreak. negotiated for that united states and iran are met in vienna for a fresh round of talks aimed at trying to revive the 2015 nuclear deal. the white house says time is getting very short for iran to accept a return to the international deal and manage its controversial nuclear programme. there have been violent attacks against suspected illegal miners in the south african township of kagiso, west ofjohannesburg. the latest reports say one person has been killed. last week eight women were gang—raped there while filming a music video — the attack was blamed on irregular miners, many of whom are thought to be immigrants from nearby nations. now to bollywood — and tossing away the old adage — don't mess with a classic. the film forrest gump won oscars — and is in the dna of cinema audiences aroun

faisal islam, bbc news. let's speak to michael hewson, chief market analyst at cmc markets. the bank warning of a recession and at the same time hiking interest rates were normally it would do exactly the opposite. you know, sadl , i exactly the opposite. you know, sadly. i think — exactly the opposite. you know, sadly, i think this _ exactly the opposite. you know, sadly, i think this is _ exactly the opposite. you know, sadly, i think this is the - sadly, i think this is the situation we find ourselves in and i think one of the things that really struck me yesterday was how candid andrew bailey was how candid andrew bailey was about the situation. usually, central banks tend to soft soap the message. they don't like to admit that they are not in control of events but that is the reality of the situation that not only us in the uk find ourselves in that pretty much everyone globally and if we think things are bad here at things in europe are probably likely to be even worse. ., ., worse. something i have not heard anyone _ worse. something i have not heard anyone explain -

there's more analysis of the day's main stories on newsnight with faisal islam which is just getting bbc two. and the main story tonight is the death of former soviet leader mikhail gorbachev. they will have more analysis and more of the tributes, i think president putin hasjust paid his tributes, i think president putin has just paid his tribute. the news continues here on bbc one as now it's time to join our colleagues across the nations and regions for the news where you are, but from the ten team, it's goodnight. thank you for watching. hello, welcome to our look ahead to what the papers will be bringing us tomorrow. with me are are olivia utley, who's assistant comment editor at the daily telegraph, and the broadcasterjohn stapleton. very good evening to you both. thank you very much for being with us. let's show you the front pages we've got so far. we'll start with that breaking news on the guardian's front page, mikhail gorbachev, the last leader of the soviet union, has died at the age of 91. the telegraph follows the story — his reforms set in train a series of events that

our economics editor faisal islam has been looking at the factors affecting bills. faisal.t britain — which will effectively set most bills. it will be further bad news. the rise from last summer, where the cap meant an average household dual fuel bill at under £1200 has already been concerning enough — reaching nearly £2000 right now and this week for winter, it is expected to exceed £3500 — around £300 per month — unthinkable for millions. and it could go higher. in fact, the industry — including the french—owned supplier edf — now calculates the majority of households will struggle. without support from the government, more than half of the uk households will be likely to be in fuel poverty in january. which means that they will have to spend more than 10% of their disposable income to pay for their energy bills. this is being driven by extraordinary and unprecedented rises in the price companies pay for gas. similar charts exist for electricity. this is the price paid for delivery of gas this winter — when it really matters. and it's the prices during this period includ

wednesday the 24th of august, there's more analysis of the days main stories on newsnight with faisal islametting under way on bbc two. the news continues here on bbc one as now it's time to join our colleagues across the nations and regions for the news where you are, but from the ten team it's goodnight. hello, and welcome to our look ahead to what the papers will be bringing us tomorrow. with me are the daily mirror columnist, susie boniface, and ali miraj, who's a columnist at the article. welcome back to both of you. tomorrow's front pages, here they are so far. let's start with the metro — which leads with a message from the family of olivia pratt—korbel, who say they will get justice for the nine year old's killing. the guardian leads with an exclusive report on russian plans to disconnect europe's largest nuclear plant from ukraine's powergrid, risking a catastrophic failure of its cooling systems. the telegraph reports on a message from prime minister borisjohnson, who asks the public to endure the cost of living crisis to help ukraine win in its war with russia. but the mirror lea

here's our economics editor, faisal islam.idering the size of the energy crisis now delivered to every household in the country and so the government's options. average gas and electric bills of £296 per month going into the winter will be unthinkable and unmanageable — and as some predictions suggest — they are north of £500 a month by next year, that's more than an average household's monthly income tax bill of £313. add all those bills up together and you get a giant dent in the economy, a significant political challenge for the new pm — who needs help, and who should pay? we didn't hear from liz truss today but rishi sunak said he would target support if he became prime minister. my priority is to support the most vulnerable in our society and pensioners. that's why on top of cutting vat off energy bills for everybody i would provide further direct financial assistance to those groups of people and i want them to have certainty that that help is coming. it would cost the government an additional £18 billion if it wants to

here's our economics editor faisal islam.ortant when considering the size of the energy crisis now delivered to every household in the country. average gas and electric bills of £296 per month going into the winter will be unthinkable and unmanageable for several million households and if, as some predictions suggest, they are north of £500 a month by next year, that's more than an average household's monthly income tax bill of £313. add all those bills up together and you get a giant dent in the economy, a significant political challenge for the new prime minister. who needs help, and who should pay? we aren't hearing much detailfrom either camp, but we can do some calculations. it would cost the government an additional £18 billion if it wants to be as generous at these prices in terms of help as it was in may in the last cost—of—living support package. if as expected it lasts across next year, you could expect to double that. but if, as the industry and the opposition suggests, the increase in the cap could be scrapped for

percentage point to 1.75% — and that's the biggest increase in 27 years. 0ur economics editor faisal islames are inflating, interest rates are going up and the economy in general is about to pop. that is the view of the bank of england, and at the small business in wales which manufactures bubble mixture, they see it too. it manufactures bubble mixture, they see it too. , ., see it too. it is something that could step _ see it too. it is something that could step a — see it too. it is something that could stop a business - see it too. it is something that could stop a business like - see it too. it is something that| could stop a business like ours. normally you get rate rises to temper down a boom in the economy, it is growing out of control, house prices are going up and up. does that seem like what we got right now? ., �* ., ., , now? no, we've got the opposite. we've not now? no, we've got the opposite. we've got an _ now? no, we've got the opposite. we've got an economy _ now? no, we've got the opposite. we've got an economy that - now? no, we've got the opposite. we've got an economy

our economics editor, faisal islam, can tell us more.l bill at under £1,200 has already been concerning enough — reaching nearly £2,000 right now. and this week for winter, it is expected to exceed £3,500 — around £300 per month. unthinkable for millions of households, some of which will receive some help. and it could go higher. the industry calculates the majority of households will strug m. without support from the government, more than half of the uk households will be likely to be in fuel poverty in january. which means that they will have to spend more than 10% of their disposable income to pay for their energy bills. this is being driven by extraordinary and unprecedented rises in the price companies pay for gas. similar charts exist for electricity. this is the price paid for delivery of gas this winter — when it really matters. and it's the prices during this period including the invasion of ukraine by russia that will drive friday's hike in the prices consumers pay. but you'll see in this very latest period the situation has go

more now from our economics editor, faisal islam.the rise from last summer with a cat meant an average household joke fuel bill at under £1200 has already been concerning enough, and at nearly 2010 trainer. this week, for winter, is expected to exceed three and a half thousand pounds. around 300 per month. unthinkable for millions and it could go higher, overfour and have thousands according to some estimates per household. there is now calculation a majority of households will struggle. irate now calculation a majority of households will struggle. we need su - ort households will struggle. we need sunport from _ households will struggle. we need sunport from the _ households will struggle. we need support from the government. - households will struggle. we need l support from the government. more than half of uk households will be likely to be in fuel poverty in january, which means they will have to spend more than 10% of their disposable income to pay. this is being driven by extraordinary and unprecedented rises in the price comp

our economics editor faisal islam looks at what options the next government could use to help bill payersn considering the size of the issue. bills of £296 per month going into the winter will be unthinkable, and some predictions that suggest they could go north of £500 a month next year. that's more than average household's monthly income tax bill. out of all those bills, you get a giant dent in the economy, a significant challenge for the new prime minister. we aren't tearing much detailfrom either prime minister. we aren't tearing much detail from either camp, prime minister. we aren't tearing much detailfrom either camp, but we can do some calculations. it would cost the government an additional £18 billion if it wants to be as compelling gently generous as it was in may. if it's expected to last across next year, you could expect to double that. but if, as the opposition suggests, the increase could be scrapped for everyone, the cost would be 90— £100 billion. you cost would be 90- £100 billion. you can certainly — cost would be 90— £100 billion. w'm. can certainly argue that oneonce

our economics editor faisal islam has been speaking to the governor of the bank of england, andrew bailey forecasting a recession. 50 as you say, yes, we are forecasting a recession-— a recession. so you're blaming russia for— a recession. so you're blaming russia for that. _ a recession. so you're blaming russia for that. but _ a recession. so you're blaming russia for that. but you - a recession. so you're blaming russia for that. but you know, j russia for that. but you know, economic policies set here. some would argue that of the biggest interest rate rise in over a quarter of the century, at the very same moment is predicting a significant recession. itrufhat the very same moment is predicting a significant recession.— significant recession. what i would sa to that significant recession. what i would say to that is _ significant recession. what i would say to that is that _ significant recession. what i would say to that is that our _ significant recession. what i would say to that is that our concern i significant recession. what i would say to that is that our concern is i say to