back in july, the imf rejected the world - the imf rejected the world economy would grow 2.3% this year, the organisation is expected to say lacklustre growth or make it even tougher governments to reduce debt levels. one economy showing serious growth right now is the united states. yet america is days away from an election in which there's been little discussion on the campaign trail about how to find the nations own debt. joining me now is brian coulton, chief economist at fitch ratings. so, later today, the global stability report will be released by the imf, we know it's going to be fairly limb, your thoughts? it’s it's going to be fairly limb, your thoughts?— it's going to be fairly limb, your thoughts? it's going to be uloom , your thoughts? it's going to be gloomy. yes. _ your thoughts? it's going to be gloomy. yes. but— your thoughts? it's going to be gloomy, yes, but one - your thoughts? it's going to be gloomy, yes, but one thing - gloomy, yes, but one thing that's coming out in the run—up to this is a palpable sense of the leaf about inflation having come down, this was a wo

you look at the imf. no one else can do with a do in terms of on the one hand providing money but on the other hand policy advice and direction to bring countries in the direction they are. without ida i don't think we can imagine how much worse off the poorest countries would be, that the world bank lending to keep countries -- key countries we would struggle. it is not just that they are essential to the world. they give us an incredible tool in american foreign policy and economic policy that we have key leadership roles in these institutions. we are the largest shareholder. we can help make sure they are driving the global economy in a way we think makes sense. from my perspective they really are the essential institutions we have to work with. greg: there have been times on the u.s. and treasury have disagreed. how do they resolve them? undersec. shambaugh: i don't think any multilateral setting comes out your way all the time. i want to be clear. i'm not saying we agree with everything the imf world

back in july, the imf rejected the world - the imf rejected the world economy would grow 3.2% this year organisation is expected to say lacklustre growth and make it even tougher for governments to reduce their levels, one economy showing serious growth right now is the united states, yet america is days away from an election in which there's been little discussion from the campaign trail about how to find the nations own huge debt. proceedings in a class—action lawsuit against a mining giant bhp have begun in london over the collapse of the company's mariana dam in brazil back in 2015. the disaster to the release of toxic mining ways that killed 19 people and devastating local communities. lawyers representing the thousands of victims say bhp is trying to avoid responsibility, the second $a7 billion in damages. shares of bhp trading just under 1% in australia today. and staying with australia, employees have the right to ignore their bosses outside working hours thanks to a recent law which enshrines the right to disconnect. the legislation passed earlier this year protects workers who

we begin in washington dc where the imf has published it's global economic outlook.been fairly downbeat, although the uk has recieved a boost — uk growth in 2024 is expected to be 1.1%, up from a projection of 0.7% injuly. so a signficant upgrade there. also a postive outlook about global inflation. take a listen to the imf�*s director of research. let me start with the good news. the battle against inflation is almost won. after peaking at 9.4% year on year in the third quarter of 2022, we now project headline inflation will fall to 3.5% by the end of next year. in most countries, inflation is now hovering close to central bank targets. an upbeat message, finally, on inflation. michelle fleuryjoins us live from new york. a gloomy update about global growth figures but crucially, the idea that inflation and the battle with inflation may finally have been solved, that is a very upbeat note? i finally have been solved, that is a very upbeat note?- is a very upbeat note? i think this is the — is a very upbeat note? i think this is the question _ is a very upbeat note? i

the imf recommended that poland do some _ better. that poland do some measures like - better. the imf recommended that i poland do some measures like raising income taxes, value added tax and so on and are you planning for any of that? h0 on and are you planning for any of that? ., �* ., ., ., ., , that? no we're not going to raise an taxes that? no we're not going to raise any taxes the _ that? no we're not going to raise any taxes the taxes _ that? no we're not going to raise any taxes the taxes are _ that? no we're not going to raise any taxes the taxes are good i that? no we're not going to raise any taxes the taxes are good and j any taxes the taxes are good and optimal level. having said that, of course there are other things that we have to do to make our economy even more stable and accelerating green energy and this is of course one of the subjects of our talks here in washington. you one of the subjects of our talks here in washington.— here in washington. you also contribute — here in washington. you also contribute relati

we from the imf, we create fiscal space for our vulnerable members.don't tell them how to use the money. we say here it is, you can address this enter of climate change. then comes the world bank with a powerful program of investments. this fiscal space we create together with the world bank becomes a transformational force. ♪ this is how we do it ♪ [laughter] [applause] mark: the imf hands off this baby in macro and micro coordination to the world bank and what do you do with that fiscal capacity if countries choose to pursue it? ajay: one example of that, in fact the first example of working on this together is the imf getting electricity to the african continent. 600 million people in africa don't have any electricity. when you fly over the continent at night and you see dark areas, it's not because there aren't people, is because they are living the way their forefathers did. i think in the 21st century that's a relatively shameful situation to be in. i think electricity is a basic human right. health, education. medicines being kept cold. everyth

plus — the imf warns the world to avoid a global trade war. hello and welcome to business today.teve lai. some breaking news, 64% of boeing workers have rejected a contract offer which included a 35% pay rise over the next four years. ritika gupta is live in new york with the latest — 64%, it wasn't even close. 6496, it wasn't even close. it 64%, it wasn't even close. it wasn't. boeing machinists have rejected the latest offer, thereby extending the strikes and as you mention, it wasn't even close, 64% voted in favour of rejecting it. there are no current talks set, but the union president has been speaking and says he wants to change that, he said the reason for the rejection is that the lack of the pension is still at the heart of the matter and he says he doesn't want —— and he says he doesn't want —— and he says he doesn't want —— and he says he once bound to get back to the negotiating table so he will reach out to the white house for help in facilitating those talks and to bring boeing back to the table. the table was the 35% increase in wages over the next four years and a

lisa: as a former board member of the imf, at what point does the imf benefit from coming out and saying, this is a multipolar world, this is the alliance we are representing, what free-trade means in our universe is trade agreements between these nations, and we have to retreat from that initial, sort of, we are the world vision? doug: i don't know that we want to retreat from we are the world. it is a very delicate position the economics department and the financial stability report on other flagship reports are coming out with this week. i'm not sure they are going to retreat from that, but they are trying to draw that line between what is good for the global economy and the world we are actually confronted with. those two are diversion because as we started with, protectionism is the norm. i thought christine lagarde this week when she was asked, what is your favorite word, she gave two words. she gave fair trade. i tipped my hat to her because nobody is saying that anymore. you heard jake sullivan give a speech year and a half after his speech last year in which he took a very prote

let's turn now to the imf—world bank meetings currently taking place in washington.s been in focus — with the imf upgrading its growth forecasts for 2025. but concerns are rising over the outcome of the us election next month. the bbc�*s faisal islam sat down with the imf�*s deputy managing director gita gopinath, and asked her if she's concerned about a broad—based trade war, should donald trump get re—elected. if you look at the group of g20 countries, the us is the only country where the level of gdp is higher now than we had predicted before the pandemic. we said, well, in 2024, we had an estimate of what the projection of the level of gdp would be in the us in 2024, it is higher than that. but one of the flip sides of that is high levels of debt, and ongoing deficit into the future, even before the presidential election. are there any concerns about the us and its fiscal position? one of our main messages at these meetings is that the world is sitting on very high levels of debt, and also we are projecting the debt will continue to grow. right now the world is s

plus — the imf warns the world to avoid a global trade war. have our exclusive interview with gita gopinath just ahead. i'm steve lai. hello and welcome to business today. we begin in seattle where boeing workers have just finished voting on a sweetened contract offer which includes a 35% pay raise over four years. remember, they rejected a 30% hike last month, resulting in an ongoing strike which has lasted for almost six weeks. ritika gupta is live in new york with the latest — where are we with the vote? well, as you mentioned, the boeing machinists have voted in the latest contract offer which could potentially end what's been six weeks worth of strikes. the voting closed up 5p and pacific time so we are still waiting for those results, there are still encountered. but on the table was a 35% wage increase for over the next four years, about 33,000 unionised workers, mostly in seattle, have voted on this. the workers previously rejected a 30% increase to wages as a said it wasn't enough to cover the increased cost of in them. the union inst

the uk growth forecast from the imf hasl forecast from the imf has improved, but the us outperforms allif you look at the us in particular, they've had a continuation of stemless packages, so there's a huge element of subsidy going on, they also have the ira which is the inflection reduction act —— inflation reduction act —— inflation reduction act, so that is assisting them there, it's had less of an impact on the energy crisis then we've had. so that's as far as the us is concerned. but as far as the rest of the matter is concerned... we are just under 100%. loads of other countries in europe are suffering quite significantly. germany has hardly grown, in fact it may be in recession for the whole of 2024, and who knows what will happen after that. so they've been very badly affected by russia. so were not doing that badly from that point of view. the budget is coming up, what are you expecting? there's lots of measures about capital gains tax — what do you think are the most likely moves rachel reeves will make? i most likely moves rachel reeves will make? ~ ., , ., will make? i think

election, ed mills of raymond james, and former imf first managing director john lipsky as the imf's annual meeting wraps up. the s&p 500 heading for its first weekly drop in seven. jim bianco of beyonca research -- bianco research writing the power of the betting markets as they can reactively to new information, such as a political event and/or in october surprise. trump is trading in all markets gritty and 50% and has been in an up trend for weeks. jim joins us now for more. let's start with the betting markets. compare in contrast them with what you see in the polling data. how big is that spread? jim: not very big at all. most of the election modelers have got trump slightly above a 50% chance of winning the election. the betting markets are supposed to take that into consideration anticipate what is coming next. as you mentioned, trump is in an uptrend and has been on an uptrend, and he is trading in the low 60's in the betting market. that seems to be appropriate to the reason i bring that up is if the markets are manipulated, you would say they are at some unexplainable level

the imf is optimistic about the us economy, documentaries on track to become japan's documentaries on track to becomejapan�*s biggest listing become japan's biggest listing in six becomejapan�*s biggest listing in six years as shares jumped 36% in the stock market debut. —— tokyo. and key allies rally around russia in a major summer in russia, the view from india on prime minister modi's attendance. hello and welcome to business today. i'm steve lai. shares in tokyo and has soared 40% in tokyo market debut and making a japan's biggest listing in six years. built in 1927, it's asia's first ever undergone railway and used by 6.5 million every day. helen wong explains why its shares have proved so popular. it is the largest since six years ago but one of the top five in the last decade and it's part of the government schemes to encourage more japanese savings to flow into the stock market. so, it is a text protected savings scheme and it has attracted a lot of interest among the japanese investors while looking for a more steady income and so, it is a dividend stock with very promising c

what do you make of the imf report.there because really the imf's growth forecast and recommendations is the shot heard around -- heard around the world. what do you feel in relation to what they said? jim: well, first of all, thank you for having me back on bloomberg, it is a pleasure. there are a lot of insights in the reports that we find valuable. the reality is that in australia, we have made extraordinary progress in the fight against inflation. when we came to office two years ago inflation had a six in front of it and now it has a three. next week we learn more about the situation as it relates to inflation and australia. we made a lot of progress and it has been welcome and encouraging. a big part of the success is the responsible way of managing our budget. the two surpluses that we delivered our the first back to back for the last two decades in australia. mary welcome and deliberate consequence of the spending restraint that we have shown and the savings we have found in the budget. of course we will rebuild

happy friday i'm silvia amaro and these are your headlines the imf warns german growth will fall behindhe united states. euro group president tells cnbc he is confident europe's largest economy can turn things around. >> the german government is looking at the steps they can take and what reforms are needed to up the performance of the germany economy. it is not only good for germany, but rest of europe as well. >>> mercedes drags the auto sector lower with the drop in adjusted earnings as the car demand lowers. >>> and eu court with the tieup with coach owner tapestry and michael kors capri in the pre-market. >>> and the third quarter numbers come in higher by 26% as net interest income comes in ahead of expectations. >>> very good morning. we start today's show looking at some fresh data out of germany we are just getting the numbers from the ifo business climate. the numbers actually came in at 86.5 that is the actual number for the month of october and it is, indeed, a slight upgrade compared what we have seen in the previous month of 85.4 the reading we're getting this morning is a

was also focused -- in focus of the imf. the manager says the world's largest economy remains strong. she also says the result of the u.s. election will have a global impact. >> it is very important. what happens in the u.s. matters for the u.s. it matters for the whole world. as you can imagine, it is an important part. >> is it making people feel paralyzed? i'm talking about policy makers and talking about investors. is it making people feel like they cannot make any moves until there are some outcomes for some big events of the elections coming down the pike? >> when you see the data, you don't really get that impression. you look at the u.s. economy and how it is doing, consumption is doing very well. markets are doing well, even though we have slowed some, and the financial markets are very strong. financial conditions are easy, so you are not seeing any negative knocks come from that uncertainty right now, but yes, i think as we get closer to it, that comes up and we will see how it works out. >> i was speaking with so

so the imf i think the benefits of including taiwan into the imf network is beyond taiwan's crisis management. actually by including taiwan into imf i think the imf will have a better position to help the world understand how the world economy is tightly connected with taiwan. and how china's taiwan's malicious actions against taiwan are actually self-defeating. given the fact that taiwan is so important globally in terms of technology, in terms of economy . and any stretch of taiwan is actually a threat to the world . and where actually china grows its strength from. as the geopolitical risk escalates around the world imf is an important part of the global financial network. the most important thing for imf to keep the geopolitical risk from developing into a global economic crisis, the first step is actually to include taiwan into its network . and in terms of the bilateral agreements with the us for the currency swap, i think it's both literally beneficial for taiwan and for the us. with the arrangement it was actually decreased the lead of taiwan to sell off the us assets in crisis and ma

we start later on today with the imf chief economist pierre-olivier gourinchas.hat first on cnbc conversation is up at 15:00 london time >>> coming up on the show, vladimir putin welcomes world leaders to the brics summit. >>> and antony blinken touches down in tel aviv to discuss the latest cease-fire push we'll have the latest. don't go away. what would become of them when they discover robinhood gold allows others to earn their very liberal rates on idle cash, unlimited deposit bonuses and handsome retirement matching? they would descend into chaos. merciless chaos. what if your mobile network wasn't just built to work out here... ...but was designed differently to also give you blazing fast wifi where you are most of the time? reliable 5g, plus wifi speeds up to a gig where you need it most. xfinity mobile. now xfinity internet customers can buy one line of unlimited and get one free for a year. - [narrator] life with ear ringing sounded like a constant train whistle i couldn't escape. then i started taking lipo flavonoid. with 60 years of clinical experience

lemonade because of imf, a marvelous achievement. reagan didn't what he said he was going to do. and force them to give up their armaments. that is what -- >> thank you. [applause] >> if you are enjoying booktv sign up for our newsletter using the qr code on the screen to receive a schedule of upcoming programs, after discussions, book festivals and more. booktv every sunday on c-span2 or any time online on booktv.org, television for serious readers. >> weekends on c-span2 are an intellectual feast. every saturday american history tv documents america's story. on sundays booktv brings you the latest in nonfiction books and authors. funding for c-span2 comes from these television companies and more including wow. >> the world has changed. today, fast reliable internet connection is something no one can live without so wow is there for our customers with speed, reliability, value and choice. now more than ever it starts with great internet. >> wow along with these television companies support c-span2 as a public service. >> c-spanshop.

faisal islam sat down with her at the imf and world bank meetings in washington.e changing the measure of debt, i will set out the details to the house of commons next week. i have listened to the imf, who has been clear that we do need to free up more money to invest in capital, as well as listening to people like gus 0'donnell, mark carney, saying we need to invest more to grow our economy and seize the huge opportunities in digital, tech, life sciences, clean energy, but we will only be able to do that if we change the way we measure debt. some might see this as a sneaky shuffle when you are in a tight bind fiscally, or are you embracing the idea that this is meant to maintain investment levels at 2.5%? i don't want those jobs and investment is going to other countries, i want to see them in britain because we have huge potential. but of course it's important that every pound of tax—payers' money spent gets value for money, so we will put in guardrails with the national audit office and the office for budget responsibility, validating the investments we are mak

back injuly, the imf projected the world economy would grow 3.2% this year.organisation is expected to say lacklustre growth and make it even tougher for governments to reduce debt levels. one economy showing serious growth right now is the united states. yet america is days away from an election in which there's been little discussion on the campaign trail about how to find the nations own huge debt. proceedings in a class action lawsuit against mining giant bhp have begun in london, over the collapse of the companies mariana dam in brazil back in 2015. the disaster to the release of toxic mining waste that killed 19 people and devastated local communities. lawyers representing the thousands of victims are seeking $a7 billion in damages. over to australia which passed a law earlier this year that gives employees the right to ignore their bosses outside working hours. called the right to disconnect, it's similar to legislation in about 20 other countries including france, phil mercer went to sydney to find out how its impact in the workplace. family fun beats

that's the warning from the imf.and economic global activity says heightened trade wars and tariffs would emerge if donald trump 5 plan to levy 20% tax on all imports comes into force if he wins the us election. into force if he wins the us election. take a listen. if you look at the group of g20 countries, the us is the only country where the level of gdp is higher now than we had predicted before the pandemic. we said, well, in 2024, we had an estimate of what...the projection of the level of gdp would be in the us in 2024, it is higher than that. but one of the flip sides of that is high levels of debt and ongoing deficit into the future, even before the presidential election. are there any concerns about the us and its fiscal position? one of our main messages at these meetings is that the world is sitting on very high levels of debt, and also, we are projecting the debt will continue to grow. right now the world is sitting at about $100 trillion of debt, it is the point we have made that given how strong the us

and the imf tells the bbc tariffs could spark a trade war with huge global consequences.ou could end up with a loss of close to 7%, so these are large numbers and 7% is basically losing the french and german economy, that is the size of the loss it would be. welcome to business today, live from new york, i m michelle fleury. we start with boeing. the share price is under pressure after what is being seen as a huge blow to the aviation giant — striking workers have rejected the latest pay offer — opting to continue their strike action. one of the major sticking points appears to be over pensions, with union members looking to regain concessions lost over a decade ago. let's have a quick look at the deal that was rejected — on offer was a 35% pay rise over four years. unions were looking for a0. and the vote was not even close with 64 percent of members rejecting the offer. that leaves some 33,000 workers off thejob. continuing strike action started back on the 14th of september. all of which has added up to over $6 billion in losses over the last quarter for boeing. let's

is saying once we get past the selection and what was interesting about the imf forecast the u.s.one of the few countries the estimates were raised for 2025 but two-point to percent growth is kind of week by historical standards is greater than what the fed is thinking at 2% for 2025 i do think there is work to do and perhaps it's a lobar that is being set for 2025. maria: how do you want to allocate capital, going into earnings season i was looking at financial services sector which is done well it's a good earnings season but i'm looking at healthcare for stability in a period of volatility and estimates have been lowered significantly and i'm continuing to look at technology because of the quality and resiliency and that's one sector where the numbers are increasing going into the end of this year end next year. maria: this week the book of earnings coming from industrials, you mentioned the focus on industrials. if you wanted to buy the quote unquote trump trade, what is the trait, thomas lee says it's banks, small caps and bitcoin said they made bitcoin a factor in this campa

this week as we have mentioned, the imf world bank meetings kickoff. on tuesday, it's the brics summit, so a touch on emerging markets at a time when investors starting to question how far the federal reserve will go in cutting rates. we will see with the reader crosses to the economies of the brics, brazil, russia, india, china and south africa. wednesday european earnings season kicks off. number of banks reporting out of europe. lloyds banking group in the u.k., deutsche bank as well, out of germany the industrials and carrefour in france. you can get around up the stories you need to know in today's edition of daybreak. terminal subscribers can go to dayb on the terminal. stories today are focused on what we're seeing in terms of the upside for the yellow metal. the middle east tensions and how that is being interpreted. the u.s. election continues to be in focus. talking of which, we are just 15 days to go. we will bring you the latest on the race for the white house. as elon musk makes a surprising intervention. his largess will be in focus

or consider the world bank and the imf. we have been leading the charge to make these institutions bigger and more effective, to fully utilize their balance sheets and be more responsive to the developing and emerging economies they serve. that has already unlocked hundreds of billions of dollars in a new lending capacity at no cost to the united states, and we can generate further investment on the scale required with very modest u.s. public investments in legislative fixes. that depends on congress taking action. our administration requested $750 million, million, from congress to boost the world bank's lending capacity by over $36 billion, which if matched by a partners would generate over $100 billion in your resources. this would allow the world bank to deploy $200 for every one dollar taxpayers provide. we have asked congress to improve investments in a new trust fund at the imf to help developing countries build resilience and sustainability. through u.s. investment in tens of millions, we could enable tens of billio

the imf is warning economic uncertainty remains a major point of concern as the focus shifts from centralank's monetary policy to government fiscal tightening. the outcome poise to significant revisions in trade and spending by new and incoming governments, as well as heightened geo political tensions and uncertainty around the appropriate monetary policy stance and particularly where stubborn inflation is paired with signs of economic slowdown. karen spoke to a lot of people over the past couple of 24 hours or so, last hour spoke also to the director of the monetary and capital markets department at the imf and asked what has changed in the outlook for financial stability. >> first is that the economic backdrop has been improving. so the risk to the downside have been lowered as the likelihood of global recession has resided. so that has fueled optimism in financial markets. earnings surprised to the upside and so we have seen the continued easing of financial conditions, equity markets are up and credit spreads are lower and the part of interest rates is generally down compared to six m

faisal islam sat down with her at the imf and world bank meetings in washington.get next week... have my first budget next week- - -— have my first budget next week... ., ., , week... comparing notes with her american _ week... comparing notes with her american counterpart - week... comparing notes with her american counterpart on | her american counterpart on balancing the books. the chancellor is walking a new path, rachel reeves confirming a change to how her all—important budget borrowing all—importa nt budget borrowing rules all—important budget borrowing rules will operate. we all-important budget borrowing rules will operate.— rules will operate. we will be chan . in: rules will operate. we will be changing the _ rules will operate. we will be changing the measure - rules will operate. we will be changing the measure of - rules will operate. we will be l changing the measure of debt, rules will operate. we will be i changing the measure of debt, i will set out the details to the house of commons next week. i have listened to the imf, who has been clear that

the imf out today. they don't want trump to win. they want to raise taxes, not cut them. they want government spending is okay. once again, government spending is okay, but if you keep more of your own money with the tax cuts, inflationary. this is the imf, the world's great economic research institution. what do you make of that? >> well it's all of a piece here. the people in the academic community, they don't want regular people to have power. because they are usually the ones who are chosen to make decisions for everyone else so there's a natural and as steve says, they give each other awards. they have these fancy con-fabs in places like all of the rest of it but the fact of the matter is, someone's income is not a dispensation from government. it's their own income and that's what republicans believe is that free markets, people that are allowed to spend money in their own way, free to choose that leads to better capital allocation decision and leads to better productivity and stronger economic growth. these people fundamentally don't believe that, because it's not

the imf tells the bbc tariffs could spark a trade war with huge global consequences.ou could end up with a loss to gdp of close to 7% of these are very large numbers, 7% is basically losing the french and german economies, that's the size of the loss. mcdonalds loses billions of dollars in share value after its burgers are blamed for an e—coli disease outbreak. and how to make rice production more sustainable — as the industry sends millions of tonnes of methane into the atmosphere. we talk to the boss of tilda. live from london, this is business today. i'm sally bundock. we start in the us where striking workers at boeing have rejected the latest pay offer and opted to continue their strike action that has lasted nearly six weeks. the news comes as a fresh blow to the chief executive of the aerospace giant, kelly ortberg, in his attempts to turn around the embattled company. boeing offered the striking machinists a 35% pay rise over four years in a new contract proposal they hoped would end the strike. about 33,000 unionised workers, mostly in seattle, took part in t

but i've listened to the imf and i'm at the annual meetings this week who have been clear that we doore money to invest in capital, as well as listening to people like gus o'donnell, mark carney, andy haldane and jim o'neill, who are all saying we need to invest more to grow our economy and seize the huge opportunities there are in digital, in tech, in life sciences, in clean energy, but will only be able to do that if we change the way that we measure debt. so the credibility of these rules is really important for everybody, for the public, for the markets. some might see this as a slightly sneaky shuffle when you're in a bit of a tight bind fiscally. so the credibility of these rules is really important for everybody, for the public, for the markets. some might see this as a slightly sneaky shuffle when you're in a bit of a tight bind fiscally. or are you embracing the idea that this is meant to, for example, maintain investment levels at 2.5%? is that what you're trying to do? the first rule, the stability rule, is the one that really binds and is hard to meet. and that will requi

economy leads the world, says imf, international monetary fund. quote, the united states is increasingly pulling ahead of the world's advanced economies, with a surge of investment paying off in higher productivity and wages. in what has become something of a trend, the imf upgraded the outlook for both u.s. and global growth, though more so for the u.s. they made a forecast of u.s. economic growth in january, wt which they then upped in july. they've had to up it again because we're not only doing well, we're doing so much better than anyone expected. u.s. economic growth is, quote, increasingly ahead of all the world's wealthy nations. u.s. economic growth beats everyone else in the group of seven, the g7 major advanced economy. and according to the imf, why is it that the united states economy is doing so well, better than anybody else in the world? well, it's because wages are up for regular people, productivity is up.pe quote, investor money has to flooded the u.s. in recent years, while big legislative packages funded green energy and infras

so, that was the chancellor speaking to me here at the imf. at the international monetary fund, because the point of these rules is to try and convey to the international market credibility to carry on lending money. and what we're setting up now is a sort of budget of two halves — ajekyll and hyde, trick and treat budget — where on the one hand, you have this loosening to invest in the future, but on the other hand, you have a tighter budget on day—to—day spending, no borrowing, just raising day—to—day spending from what can be taxed. so this does not necessarily change the need for extra tax rises, but it does loosen the need and the availability of investment spending. it's an important change, one with consequences for the budget and well beyond. thanks to faisal for that. just want to take you live to tel aviv in israel right now, and israeli army spokesperson daniel hagari is speaking right now, has been speaking in hebrew. just waiting to see if he twitches to english as he often does. i get an update on what we brought you in the last

the imf believes that an escalation of the conflict will have a negative impact on the entire global economy, and not just the region itself. the consequences of the confrontation, which has been going on for almost a year, are global. the potential for further escalation of the conflict increases risks and uncertainty and could have significant economic consequences for the region and beyond. as for the latest events, it is too early to talk about the economic consequences, but we already know that the economies are at the center of the conflict. usa joe biden, as already mentioned on our broadcast, said that washington is discussing possible support for an israeli strike on iran's oil infrastructure, which, experts have no doubt, in the event of such an attack would cause an unprecedented response from tehran. analysts note that a major war in the middle east is not in the interests of the democratic party now, firstly, kamali haris. cheap gasoline is needed to win the elections, secondly, before the same elections, the democrats need to show themselves as peacemakers, if not to st

i've listened to the imf, at annual meetings this week, who have been clear that we do need to free upey to invest in capital. as well as listening to people like gus o'donnell, mark carney, jim o'neill, who are all saying we need to invest more to grow our economy and seize the huge opportunities in digital, tech, life sciences, clean energy. but we will only be able to do that if we change the way we measure debt. the credibility of these rules is really important for everybody. for the public, for the markets. some might see this as a sneaky shuffle when you are in a tight bind fiscally, or are you embracing the idea that this is meant to, for example, maintain investment levels at 2.5%? first of all, the stability rule is the one that really binds, and it's hard to meet. that will require difficult decisions on spending, welfare and taxation. but there is a choice about whether we want to continue on this path of decline. the plans i have inherited from the conservatives see public sector net investment decline quite rapidly as a share of our economy. if we continued on that path,

dan had the conversation from the imf summit in dubai.an, highlight what were the biggest points from having this conversation with the former house speaker? >> reporter: silvia, a number of key take aways from the aim summit in dubai, this is the leading summit bringing together 800 global investors and policymakers to discuss the outlook here not just for the investment extrajectory, but th u.s. politics as well. politics has taken center stage given america has 15 days to decide its next president. i was on stage with mr. kevin mccarthy and he weighed in on this issues. i asked about the outlook for the u.s. economy and debt and deficit. the current projections suggest that former president trump, if elected, would add $7.5 trillion to the national debt. that is 7.5 trillion with a "t" by the way and kamala harris would add $3.5 trillion. both candidates are happy to add to the deficit stateside. i asked the former speaker if the u.s. had a debt and deficit problem and specifically what that might mean for the global outlook and invest

we begin in washington dc where the imf has published it's global economic outlook.be 1.1%, up from a projection of 0.7% injuly. so a signficant upgrade there. also a postive outlook about global inflation.

ministers and bankers, there have been some worries about rising government debt but helpfully, the imfo up its investment game. ijust want to emphasise again the point that public investment is needed in the uk, if you compare uk to other g7 countries, investment has fallen short. so that spending will have to take place alongside having the kind of fiscal rules that stabilises debt over the next five years. just like we have seen in the usa, a borrowing boost for major infrastructure such as green energy and technology, and yet, at the same time, day to day spending funded only by rising taxes. both long—term gain and short—term pain, almost two budgets in one next week. faisal islam, bbc news, in washington. the prime minister said tonight that next week's budget is an important one which will show the government is "running towards" problems facing the country. sir keir starmer is at the commonwealth summit where he's facing renewed pressure from caribbean countries about the issue of reparations for the transatlantic slave trade. he's been speaking to our political editor, chris ma

raised its growth forecast for the us economy and singled out as a quote engine of global growth, the imfking. and coupled with robust consumer spending and lend them to now expect the us economy to grow by 2.8% this year and by economy to grow by 2.8% this yearand by 2.2% economy to grow by 2.8% this year and by 2.2% in 2025. this comes as voters in the us for a purple car surveys for the country's next

in what has become something of a t trend, the imf upgraded the outlook for both u.s. and global growth, though moregl so for th u.s. they made a forecast of u.s. economic growth in january, which they then upped in july. they've had toin up it again because we're not only doing well, we're doing so much better than anyone expected. u.s. economic growth is, quote, increasingly ahead of all the world's wealthy nations. u.s. economic growth beats everyone else in the group of seven, the g7 major advanced economy. and according to the imf, why is it thatco the united states economy is doing soed well, betr than anybody else in the world? well, it's because wages are up for regularag people, productivy is up. quote, investor money has flooded the u.s. in recent years, while big legislative packagesla funded green energy d infrastructure. meanwhile, abundant domestic supplies largely ens lated u.s. companies from energy shortages and price shocks. economists say that has led to a surge in investment in the u.s., which boosts productivity. and quote, productivity is the main

representatives from the more than 190 member countries of the imf are gathering — to discuss how toem is poland — whose economic growth is set to accelerate over the next couple of years, according to the world bank. the country — which shares a border with ukraine — is also one of the largest contibutors to nato defence spending, relative to the size of its economy. earlier, iwasjoined here in the studio by the finance minister of poland, andrzej domanski. he told me more about how the war in ukraine is impacing poland. imean, it i mean, it is absolutely clear for us in poland that the threat from russia israel and wejust threat from russia israel and we just cannot afford to ignore it and therefore we have the highest share of spending relative to gdp among all nato members, 4.1% this year and a next year. but it is clear for us that we need to modernise our army to be ready. and of course we try to convince our european partners to increase their spending as we believe that europe needs more solidarity in terms of spending, defence spending, because when we are buying tanks, jets

the imf has warned the war could have significant ramifications for the global economy and it plans tomonth when the global lender and the world bank hold their annual meetings in washington. michelle fleury there. here in singapore, at the weekend, it was a sad day for the city's horse racing scene — it held its final race on saturday. here in singapore, it was a sad day for the city's horse racing scene, which held its final race on saturday. turf club will close after 180 years, as its land goes back to the government to use for new housing projects. while its closure came as a shock, spectators have dwindled over the years. only 10,000 people showed up for the final race, the grand singapore gold cup, which is about a third of the venue's capacity. queen elizabeth attended events there about twice. she even had a race name to her honour. and that's it for this edition of business today. thanks for watching. hello and welcome to sportsday from the bbc sports centre. i am chetan pathak. coming up in a programme, what next for erik ten hag? and manchester united now win five after a g

so that was the chancellor is speaking to me here at the imf.significance that it is here at the international monetary fund, because the point of these rules is to convey to the international markets credibility to carry on lending money, and what we are setting up now is a sort of budget two hives, jekyu now is a sort of budget two hives, jekyll and hyde, trick or treat, where on the one hand you have this loosening to invest in the future, but on the other hand you have a tighter budget on day—to—day spending, no borrowing for day—to—day spending, so this does not necessarily change the need for extra tax rises, but it does loosen the need and the availability of investment spending. so an important change, one with consequences for the budget and well beyond. faisal islam in washington, _ the budget and well beyond. faisal islam in washington, thank- the budget and well beyond. faisal islam in washington, thank you. there's been a big rise in the number of cases of scabies in the uk, with universities and care homes the worst affected. gps h

presidential campaign, he predicted, right, this is mit imf, very distinguished man, he predict thatd have a stock market crash and a depression. got us his prediction. so, claudia, a bunch of years later, he gets the noble prize. i campaigned and crusaded and literally on this show and in print and my pal steve moore, art laffer should have got it. all right, not simon johnson or some goof ball that makes terrible predictions. what do you think? you're not a professional economist. how does this thing kind of happen? what do you think about that, claudia? >> larry, i agree with you art should have got it and talking about mit, probably another 800 on his sat and someone dealing with payroll and ups and downs going into a business every day and trump is so good giving the entrepreneurial side of it and mentioning what's important and two of the most important things on the show, larry, is number of one growth and no. 2 is equal energy. you have to get our energy back because that is what's going to drive down prices and going to enable us to have growth and bring back supply chains a