kate moody, business editor.he british socialite, healing maxwell, has been sentenced today to 20 years in prison by a court in new york for her role in recruiting and grooming teenage girls who were then abused by her then boyfriend, delete financier jeffrey epstein. in december, the 60-year-old was convicted of five charges. while speaking today she said meeting epstein had been her greatest regret. here's a look back now at maxwell's downfall. reporter: it is a fall from grace for the british socialite. in december of last year, she was convicted on five of six counts, the most serious being sex trafficking minors. >> a unanimous jury has found ghislaine maxwell guilty of one of the worst crimes imaginable. facilitating and participating in the sexual abuse of children. crimes that she committed with her longtime partner and co-conspirator, jeffrey epstein. reporter: -- >> the road to justice has been far too long. but today justice has been done. reporter: prosecutors described maxwell's conduct as a shocking

monte: time now for business with kate moody. u are looking at their real strike in the uk, the issues as well as the impartial economy? kate: only 20% of passenger trains were running across the u.k., 40,000 national real two more days of workouts have been planned on thursday and saturday. it separates track by workers at the london underground has added to the disruption this tuesday. that means many people have been unable to get to work or go out shopping or socialism. one research group said three days of strict reduced economic output by more than 100 million euros, more than half of it just on the first day. it is estimated 200 50,000 people would be unable to get to work as a result. the hospitality industry is expecting an even bigger hit, one point 2 billion euros in lost revenue from bars, restaurants, theaters and hotels across the country. at the heart of the dispute are demands for peer raises. the rmt union wants its members to receive pay raises of at least 7%. the national real has offered 3%. inflation in the u.

time for business now with kate moody. thank you for being on set with us. yet another warning that russia's invasion of ukraine is derailing the global economy's recovery from the pandemic. kate: we have heard several warnings over the last few days and weeks. the organization for economic cooperation and development is now the latest two/is forecast for economic growth for 2022 from foreign half peent projected in december for just 3% in its latest outlook released on wednesday. that is largely in-line with similar forecast by the world bank and international monetary fund, which is drastically scaling back their projections as well. driving that slowdown is the cost of living crisis impacting households and businesses around the world. forecasting inflation across its 38 member states will average eight and a half percent this year, seven pratt -- 7% in the eurozone with energy prices soaring. i have been speaking to the oecd's deputy general and chief economist and the eu's economic exposure to the war. >> europe is relying heavily on russian energy both

it is now time for business with kate moody.ntral bank is setting the stage to raise interest rates for the first time in over a decade. >> next month we will see us derisive rate hikes once the bank end its emergency bond buying program. the main interest rate on deposits is currently at -45%. it is basically a way of encouraging spending. possibly makers -- policymakers plan to increase that by a quarter of a percent in july. this is an effort to rein in inflation which had a record high of 8.1% in may fueled by surgeon then you prices -- surging energy prices. >> high inflation is a major challenge for all of us. the governing council will make sure that the inflation returns to our 2% target. >> the ecb targets medium-term inflation of about 2%. earlier, i spoke to frederick. he said it is not clear what a neutral stance will entail. >> i he no idea. i think they have no idea. thestimate is around one or 2%. they will likely try to hike rates which will be a fairly ambition -- ambitious pat because of the economy, because of

we will move on to kate moody. people smoke, vape, it looks like the u.s. is cracking down.r: yes, it is targeting one of the market leaders, banning sales of e-cigarettes and other products made by juul. they had ordered companies to show products were a benefit the public health, basically showed they would help adult smokers to quit or reduce tobacco consumption. some companies have received approval, but after a two-year review, the fda said juul had failed to make its case. it had been blamed for a spike in vaping because of its marketing of fruit and candy-flavored e-cigarettes. they stopped selling those products in 19. the u.s. market share plummeted from 70% to 36%. it and says it offers a healthier alternative to traditional cigarettes and says it will appeal the decision. germany has taken a step towards returning to rationing natural gas, activating stage two of a three-stage plan to deal with shortages, the alert state, between the early warning in the emergency. last week, russia cut gas deliveries to germany by 60% to germany and made similar reductions to ita

kate moody is here starting with sri lanka. nternational monetary fund has wrapped up what it describes as constructive talks with the government, the first step towards possible agreement on financial support. as those talks wrapped up the island saw yet another day of protests as people grow frustrated with fuel, medicine, and food shortages. earlier this week government ordered schools to be shut, and banned fuel sales for all but it deems essential services like hospitals and on public transport for at least two weeks. sri lanka defaulted on its $51 billion foreign debt in april. the imf says we need to tackle corruption and raise taxes before agreeing to any bailout. european union has sealed a free-trade eel with new zealand after four years of negotiations. urszula von der leyen anderson to arden hailed the agreement as deepening the partnership of like-minded friends. you investment new zealand could increase by over 80% if and when the deal is ratified by the blocks 27 member states. >> the european union is already new

kate moody there with your business. times for sports with james messina.eyes on the boston celtics tonight, we will have to battle hard if they want to keep their hopes for the nba title. >> they are down 3-2 to the golden state warriors, and will be fighting them on home turf. san francisco is in boston, with two chances of lifting the trophy in this best-of-seven finals. if they win tonight, they will get their fourth title in eight years. now, star man steph curry had a bit of an off night in their last game, but andrew wiggins was there, instrumental in helping them to this crucial home when. the celtics cannot afford to lose this one. >> having been here six times and been in a lot of different closeouts, you understand what the nerves are like. you can rely on that experience for sure. but at the end of the day, once you get out there, you have to just be in the moment. you've got to be present as much as possible, not worry about the consequences, a win or a loss. the opportunities you have are in that four to eight minutes. >> we are looking for th

according to moody's analytics, american households paying $460 more every month to buy the same amount of goods skpfss is they were getting last year. i want to bring in cnbc's kateogers and politico's chief economic's correspondent, ben white. good to see you guys. ben, i want to ask you about what the president said, that the white house is doing all its can. he talked about putin shipping companies, oil companies, he called out exxon. does he have a point? >> he has a point that the president has limited control over inflation, but not necessarily the rest of it. pooud's invasion of ukraine obviously drove up oil prices sharply after that happened, but they were already going up and core inflation on everything was already going up before that. so it's not all down to putin's price hike. and as you said, there's just pain everywhere. you've got, you know, groceries up 12% and energy at 34%. so we're paying more in the stores, we're paying more at the pump, and people are really unhappy about it and consumer confidence has fallen off a cliff. >> there are some indicators that are good. low employment, for example. but that consumer sentiment number out today wa