anchor: all right, michelle fleury in new york for us, thank you very much.l, the united nations has one but the next five years will almost certainly be the hottest since records began and scientists are predicting that a global temperature rise will break the crucial threshold for the first time in the next few years. our climate editor explains the reasons behind it. climate editor: risg temperatures things to global warming are one reason but we are also seeing a change in a crucial weather system in the pacific ocean called el niÑo. winds blowing along the equator have been stronger than normal, pushing warmer water to the coast of asia in helping deep cold water well up on the coast of the americas. this phase is known as la niÑa and is associated with below average global temperatures. we are now moving into the el niÑo phase with the wind is weaker and warmer water spreads across the pacific patents to increase global temperatures only 0.2° celsius on average. that does not sound much but makes it almost certain that the 98% chance according to the un

michelle fleury, reporting _ the shots. michelle fleury, reporting for— the shots.for us alive. - pakistan's former prime minister, imran khan, is to be freed from custody, a day after the supreme court ruled, that his dramatic arrest on corruption charges, was illegal. his detention sparked a wave of protests and violence in which several people died, and nearly 2,000 were arrested. live now to our pakistan correspondent, caroline davies, who's in the capital islamabad, and caroline, you've managed to talk to imran khan, what's he been saying? clive, he has been fairly defiant, as he has been throughout the course of this week. he was speaking to me and conducting interviews inside the courtroom in front of the judges' bench once thejudges courtroom in front of the judges' bench once the judges had courtroom in front of the judges' bench once thejudges had retired. i asked him whether he condoned the violence we have seen in the streets in pakistan since he was arrested on tuesday. he said he always wanted to have peaceful protests, that is what he has called for t

the bbc�*s michelle fleury reports from westchester, new york.osing momentum after nine rate hikes in the past year. the federal reserve�*s efforts to cool the us economy are having an effect. this is a chain that you'll see on like roller shades and vertical blinds. something bill, who runs a family owned manufacturing business in westchester, new york, is seeing first—hand. right now, we're expecting some softness in the marketplace for probably six months or so. we're seeing a lot of softness in the marketplace as far as demand, the commitment in terms of like long term blanket orders with customers. we're not seeing that either right now. so we're having some challenges with that. american businesses are pulling back on spending and hiring. the housing market is slowing both areas sensitive to changes in interest rates. and more pain may be coming. america's central bank was tipped to raise rates again this week in what was expected to be its last hike for a while. but after the collapse this week of first republic bank, some are speculating

from new york, my colleague michelle fleury sums up the mood in washington. with just one week left until treasury officials say they will run out of cash to pay its bills, the mood music from washington was upbeat. but a deal can be done to avoid default. i want to be clear. the negotiations we are having with speaker mccarthy are about the outlines of what the budget will look like, not about defaults. it is about competing visions for america. nothing will be resolved until we resolve them all. we know where our differences lie. we worked well past midnight last night, we are back at it today, trying to get to the conclusion so we can solve this problem. failure to reach an agreement could have global implications. fitch, one of the major credit rating agencies warned of a potential downgrade to the us credit rating if the deal isn't done. the us treasury department seized on this, saying it underscored the need for swift bipartisan action. the biggest sticking point remains spending. if they don't cut enough, they won't win over republicans, but if they d

that was michelle fleury reporting.g brinkmanship has resulted in the credit rating agency, fitch, placing the us triple—a status the debt ceiling brinkmanship has resulted in the credit rating agency, fitch, placing the us triple—a status on ratings watch negative. fitch said the increase reflects the political partisanship that is hindering the resolution to raise or suspend that debt limit. two months after buying a failed lender. according to an e—mail sent by the chief executive to all employees on wednesday, the lay—offs do not include positions which are client facing and indian based support staff are also affected. the news of the lay—offs was first reported on axios. let us move to the latest fed minutes. the us central bank are still undecided on the outlook for interest rate increases. the aggressive rate hikes in the us last year had put pressure on central banks in the region to keep up. in the last hour we learned that south korea's central bank is holding its rates steady. i spoke to diana mousina, deput

michelle fleury, bbc news, westchester, new york.ntral bank decisions, the reserve bank of australia raised its key rate on tuesday. the move stunned the markets and analysts, who were expecting an extended pause. australia's central bank said inflation was way too high and warned that there could be further rate hikes. the bank's governor acknowledged that inflation is now past its peak, but it will take a while for it to fall back into the bank's target range of 2—3%. indian low—cost carrier go first filed for bankruptcy owing to a severe cashflow crunch. the airline has blamed its us engine supplier pratt & whitney for not supplying working engines, which resulted in the airline's downfall. pratt & whitney said it was committed to the success of its business customers. india business correspondent archana shukla filed this report. from planning an ipo early last year to filing for bankruptcy. go first's story has really changed. the airline had been cash strapped for much of last year as nearly half of its aircrafts are grounded,

michelle fleury has more.treaming business totalled $659 million, an improvement from a year earlier. the progress was largely down to price increases introduced last december. since his return as chief executive, bob iger has made restoring profitability and is on a video offering a top priority, during a call with investors, he said it was on the right path to streaming profitability, even with your right —— right astray going on right —— right astray going on right now. lawson 2019, disney plus enjoyed explosive growth, but costs also balloon. by spending less on bringing in new customers, disney is making more money of each one, but its subscriber numbers are fallen. the service is roughly 158 million subscribers around the world, down 2% from december, with most of that loss going from ultra low price subscriptions in india. while all streamers face the challenge of how to make money, disney does have one big advantage, is the impulse, which continue to do very well. profits at the company's parks, experi

that was michelle fleury reporting.t ceiling brinkmanship has resulted in a credit rating agency, fitch, placing the us triple—a the debt ceiling brinkmanship has resulted in the credit rating agency, fitch, placing the us triple—a status into negative territory. fitch said the increase reflects the political partisanship that is hindering the resolution to raise or suspend that debt limit. let us move to the latest fed minutes. the us central bank are still undecided on the outlook for interest rate increases. the aggressive rate hikes in the us last year had put pressure on central banks in the region to keep up. so what does this latest fed minute mean for interest rates in asia? i spoke to diana mousina, deputy chief economist at australia's amp. earlier, she said that we are getting very close to the peak of interest rates for many major central banks in the region. i suppose the biggest risk is really around future rate hikes and the potential for those rate hikes, because the sentiment over the past few months ac

that was michelle fleury reporting.t ceiling bring the ship has led to a agency placing the us status on rating watch negative. fitch's increase reflects the lack of political partnership, hindering that raise in debt limit. let us move to the latest fed minutes. the us central bank are still undecided on the outlook for interest rate increases. the aggressive rate hikes in the us last year had put pressure on central banks in this region to keep up. so what does this latest fed minutes mean for interest rates in asia? i spoke to diana mousina, deputy chief economist at australia's amp. earlier, she said that we are getting very close to the peak of interest rates for many major central banks in the region. i major central banks in the reuion. , , , region. i suppose the biggest risk is really _ region. i suppose the biggest risk is really around - region. i suppose the biggest risk is really around future i risk is really around future rate hikes and the potential for those rate hikes, because the sentiment over the pa

michelle fleury in new york.e world of the sound of a ferrari, the roar of the sound of a ferrari, the roar of that engine, is as much a part of the brand as the famous logo. so what does the arrival of silent electric cart mean for the company? theo leggett has been speaking to ferrari's chief executive, a physicist and inventor who took over running the supercar maker back in 2021. he asked him about his vision for the company. 2021. he asked him about his vision for the company-— for the company. ferrari is a luxury brand and when _ for the company. ferrari is a luxury brand and when you _ for the company. ferrari is a luxury brand and when you talk _ for the company. ferrari is a luxury brand and when you talk about - for the company. ferrari is a luxury brand and when you talk about a i brand and when you talk about a luxury brand you're talking about a brand that is touching the client in the soul. so you may touch it with a car, you may touch it with racing, you may touch it with lifestyle. said that since

michelle fleury reporting for us. it is not all doom and gloom on wall street, because apple's shares are up almost 2% in extended trading after they announced a profit boost that exceeded expectations. it is fuelled by their weight iphone sales, particularly in emerging markets such as india. discussing the results, apple's ceo tim cook said that supply chain problems which had plagued the company following the covid pandemic had now vanished. this follows better—than—expected earnings from many of apple's appears in the us tax base, raising hopes that the worst might be over for the sector. apple remains one of the few giants in the industry, no mass lay—offs so far. for more on the outlook for the company, we can now speak tojeff field hack, from counterpoint chemical research, whojoins me. nice to have you back, jeff. what do you make of the results? yes, i thought the results were very impressive, because the overall smartphone market was down 14% during the quarter, and apple's revenues were up a little. we thin

the bbc�*s michelle fleury reports from westchester, new york.osing momentum after nine rate hikes in the past year. the federal reserve�*s efforts to cool the us economy are having an effect. this is a chain that you'll see on like roller shades and vertical blinds. something bill, who runs a family owned manufacturing business in westchester, new york, is seeing first—hand. right now, we're expecting some softness in the marketplace for probably six months or so. we're seeing a lot of softness in the marketplace as far as demand the commitment in terms of like long term blanket orders with customers. we're not seeing that either right now. so we're having some challenges with that. american businesses are pulling back on spending and hiring. the housing market is slowing both areas sensitive to changes in interest rates. and more pain may be coming. america's central bank was tipped to raise rates again this week in what was expected to be its last hike for a while. but after the collapse this week of first republic bank, some are speculating i

that was michelle fleury.nics company and one of the major manufacturers and suppliers of iphones, foxconn, has bought a massive piece of land on the outskirts of india's it hub of bengaluru. it is part of the companies big investment plans in india. the bbc�*s arunoday mukharji has more from delhi. this piece of land measures around 1.2 million square metres and is worth $37 million. these details were revealed in a regulatory filing by the company at the london stock exchange. and this is part of the company's larger diversification plans, as it attempts to move away its production lines from china. and india has been on the radar for the company. we have reported in the past on foxconn's larger plans in the country to invest nearly $700 million on a new plant to boost production. the investment is believed to create around 100,000 jobs in the state of karnataka, and that's where the it city of bengaluru is located. the chairman of foxconn was in india in march this year and held several meetings with leader

we can talk to michelle fleury, our north america business correspondent.llegations, where have they come from? yes. it is the national _ where have they come from? yes. it is the national security _ where have they come from? yes. it is the national security agency, - where have they come from? yes. it is the national security agency, the | is the national security agency, the nsa. according to them, the hackers are using this technique known as living off the land, a difficult method to detect. rather than downloading software, it gets inside from the system within, and so it is harder to detect, does not need leave a trace. the group allegedly behind it was recently accused by microsoft of infiltrating civilian and military networks in the us and on a key american airbase south—east of taiwan, a key hub of communication points between the us and asia. there is concern, as you say, about what has been going on at a time when you have worsening relations between the us and china. a huge level of distrust. and, so there is concern about how this plays into

as michelle fleury explains.ith house speaker kevin mccarthy, negotiators were once again around the table, trying to strike a deal to avoid a default. now, sources say the white house is now offering to keep spending flat from this year to next, while republicans — they say they want to increase defence spending while cutting everything else by up to 22%. treasury secretary janet yellen confirmed over the weekend that june 1st is the hard deadline, when the government can no longer pay its bills. and the deadline for a deal may actually be sooner — in order for it to pass the house and senate in time. and there's another worry — even if they do get a deal done in time, will rank and file members of both parties go for it? the impact of defaulting would be felt by everyone. economists say millions of americans could lose theirjobs, pushing the country into a recession, and there would be untold disruption to the world's financial markets. to china now where the russian prime minister is visiting with a group of b

michelle fleury is in new york for us. what is going on here? there has been some volatile circumstances in some of its 2000 stores.— volatile circumstances in some of its 2000 stores. yes, if you go to are target — its 2000 stores. yes, if you go to are target in _ its 2000 stores. yes, if you go to are target in america _ its 2000 stores. yes, if you go to are target in america around - its 2000 stores. yes, if you go to are target in america around this| are target in america around this time of year you will see lots of items with rainbow themes and other lgbtq+ produce and products. this is something that target has been doing for years. whilst it always drawn some criticism, this year it seems to be at a level it is not seen before. so the company came out and said, our employees have faced a threat and so as a result of that we are taking steps to try and move some merchandise and take some steps to make it less prominent display and move it in some stores towards the back where it is less visible. for the safety of our employees. at the

he is trying to slash costs by $5.5 billion this year as michelle fleury reports from new york. interestl get those details from the bank of england. elsewhere the bank of england is dealing with rising inflation and trying to raise the cost of borrowing to try to ease the pressure on the cost of living. that coming up for you at midday it is time to tell you also we have had an update from foxconn whose first—quarter profits fell by 56%. foxconn suffered from the general decline in demand for electronics that we've seen around the world. after stocking up during the pandemic, people have generally been tightening their belts as inflation rises. but it's been a difficult last six months or so for foxconn. on top of these earnings. back in november, they had to deal with mass worker protests at the world's biggest iphone factory in central china. now, the zero covid policies that sparked those protests, they were eventually abandoned. but the economic bounce back that many had hoped for hasn't really kicked in yet. and there are also longer—term risks looming on the horizon for foxconn. t

our north america business correspondent michelle fleury is live in new york for us. we have been here before but once again, a stark warning that if nothing is done, it causes huge repercussions around the world. this is because as — repercussions around the world. ti 3 is because as you say it is going to affect the jobs of government employees in the united states and have a knock—on effect on the border economy, but then there is beyond the shores of the united states, the kind of ricochets it will have around the global financial system and that is why you have had this increasing drumbeat as we get closer to the kind of point at which the treasury runs out of money, warnings, the latest of which, perhaps, the starkest so far, coming on sunday, that failure to raise the debt ceiling would cause a steep economic downturn, she talked of financial chaos and she appeared on a us tv station over the weekend to say that the department would run out of measures byjune, that is the so—called x date. only a deal with congress could avoid potential economic chaos. it is co

michelle fleury reports from westchester, new york.ter nine rate hikes in the past year the federal reserve's efforts to cool the us economy are having an effect. this is a chain you _ economy are having an effect. this is a chain you will _ economy are having an effect. this is a chain you will see _ economy are having an effect. ti 3 is a chain you will see on roller shades and vertical blinds. runs a famil run shades and vertical blinds. runs a family run manufacturing - shades and vertical blinds. runs a | family run manufacturing business shades and vertical blinds. runs a i family run manufacturing business in westchester new york and he is seeing this first hand. we westchester new york and he is seeing this first hand.— seeing this first hand. we are seeinu seeing this first hand. we are seeing lots — seeing this first hand. we are seeing lots of _ seeing this first hand. we are seeing lots of softness - seeing this first hand. we are seeing lots of softness in - seeing this first hand. we are seeing lots of softness in the | s

michelle fleury, north america business correspondent.dly familiar, these last—minute talks to try and avert a crisis. last-minute talks to try and avert a crisis. , , , , ., ~ , crisis. yes. this is high-stakes olitical crisis. yes. this is high-stakes political theatre _ crisis. yes. this is high-stakes political theatre that _ crisis. yes. this is high-stakes political theatre that we - crisis. yes. this is high-stakes political theatre that we are i political theatre that we are witnessing, president biden will meet with congressional leaders later today, meet with congressional leaders latertoday, but meet with congressional leaders later today, but there is little hopein later today, but there is little hope in the bar is set fairly low, —— and the bar is set fairly low, and the reason is the parties are fairly deadlocked, president biden says the debt ceiling should be passed with no preconditions and on the other side you have the republicans who are demanding spending cuts in return for raising the debt limit and at the moment pr

let's get the latest on this with our north america business correspondent michelle fleury in new yorkelief after the roses that the inflation is coming down. it some relief after the roses that the inflation is coming down.— inflation is coming down. it was the tenth month _ inflation is coming down. it was the tenth month in _ inflation is coming down. it was the tenth month in a _ inflation is coming down. it was the tenth month in a row— inflation is coming down. it was the tenth month in a row that _ inflation is coming down. it was the tenth month in a row that inflationl tenth month in a row that inflation was slowing down and people are looking at it as a sign that perhaps the worst of the inflation crisis is behind us. the problem we have is that the battle is yet to be one because typically if you look at the federal reserve 2% target at 4.9%, we are behind that by a significant margin. the fact that the direction of travel is moving in the right day and people are looking at it in the right way and the federal reserve is right way and the federal reserve is right to take a b

let's go to michelle fleury in our new york bureau. there seems to happen quite often.rs seized control of three banks now. how similar a specific question to silicon valley bank, the one that sucks all of us back in march? i think the similarity is much confidence. it is a long time to build up trust, days, hours for that to erode. i think what is happening is that after silicon valley bank, in fact as were spooked and thinking who else might be facing similar problems. orwho who else might be facing similar problems. or who else might be sitting on assets that perhaps are not worth as much as they once were. so that is what we have been witnessing, in some ways a consequence of higher interest rates. a fallout of this kind of increase in rates and how that is affecting these regional banks. after the 2008 financial crisis, there were so much focus on banks that were too big to fail and a lot of the regulation concentrated on that and about to ten years after, the smaller banks shouldn't be put under tow much scrutiny and then suddenly, here we are today. just. suddenl

michelle fleury in new york. direct messages sent on twitter will be end encrypted meaning private messages can only be read by the sender and recipient. chief executive elon musk said that meant that he could not view uses a part messages even if there was a gun to his head. shares of global entertainment giant walt disney have been under pressure after it revealed its streaming service disney plus has lost another 4 million subscribers. investors were hoping for a rise. the good news though — disney plus is making more money from each user, and that's helped it lose less money than before. that's the latest from business. iamata i am at a signed ben thompson on twitter. you're watching bbc news. thanks very much. more from then tomorrow at the same time. it's time for your eurovision fix. the grand final of the eurovision song contest is just days away — and tonight, the second semi—final takes place in liverpool. marie moshiri is really enjoying her work. 0verto marie moshiri is really enjoying her work. over

from new york, my colleague michelle fleury sums up the mood in washington.

let's get the latest on this with our north america business correspondent michelle fleury in new yorkhe us federal reserve, finally starting to pay dividends. yes, the huge takeaway is when you look at it we are talking about ten straight months of slowing inflation and that has to be good news. when you look at the inflation peak of 9.1%, that is good news that we definitely far away those crisis days and there is still more work to be done. when you consider where the fed want inflation to go at 2% on an annual basis and obviously it still remains high. the area that the economists are looking at in particular is this is subsector, because coming out of the pandemic where we saw prices rise initially was in goods, problems we were talking about the supply chains and now it is things like eating out in restaurants, airfares, the ongoing price of used cars, those are the things that that are proving to be tougher to bring down prices on. michelle, thank you for now. let's speak now to steve hanke, professor of applied economics at thejohns hopkins university in baltimore thanks for be

let's go to michelle fleury in our new york bureau.ll saying the banking system. and yet investors essentially don't believe it. it takes years to build up trust but a couple of days that trust to be destroyed. investors simply aren't convinced that there is not another shoot and drop and we will see the rush for the exit and it puts pressure on the share price. part of this has to do with rising interest rates. that has put pressure on some assets which are no longer worth as much. that is causing losses in a box of these banks. 0n much. that is causing losses in a box of these banks. on top of that, you have the speed of which deposits can move. something that perhaps we didn't stand to see so much before but now you are seeing customs ready to move their money from bank to bank at the that hatch. i to move their money from bank to bank at the that hatch.— bank at the that hatch. i was 'ust thinkin: , bank at the that hatch. i was 'ust thinking. you fl bank at the that hatch. i was 'ust thinking, you can i bank at the that hatch. i wa

saying on wednesday that negotiators remain far apart. 0ur north america business correspondent michelle fleury

from new york, michelle fleury reports.ne week left until treasury officials say the us will run out of cash to pay its bills, the mood music from washington was upbeat that a deal can be done to avoid default. i want to be clear that the negotiations we're having with speaker mccarthy is about the outlines of what the budget will look like — not about default. it's about competing visions for america. nothing will be resolved till we solve them all. we know where our differences lie. we worked well past midnight last night, we're back at it today trying to get to the conclusion that we can solve this whole problem. failure to reach an agreement could have global implications. fitch — one of the major credit rating agencies — warned of a potential downgrade to the us credit rating if a deal isn't done. the us treasury department seized on this, saying it underscored the need for swift bipartisan action. the biggest sticking point remains spending — if they don't cut enough, they won't win over republicans. but if they do to

michelle fleury reports from westchester, new york.federal reserve's efforts to cool the us economy are having an effect. this is a chain you will see on roller shades and vertical blinds. bill runs a family run manufacturing business in westchester new york and he is seeing this first hand. we are expecting softness in the marketplace for about six months or so. we are seeing lots of softness in the market as far as demand. the commitment in terms of long—term blanket orders with customers, we are not saying that either, so we are having challenges with that. american businesses are pulling back on spending and hiring. the housing market is slowing, both areas sensitive to changes in interest rates, and more pain might be coming. america's central bank was tipped to raise rates again in what is expected to be its last hike for a while, but after this week's collapse of the first republic bank some are speculating it might already be done, with the fed having to manage inflation, growth had no financial stability concerns. slowing the

michelle fleury has the details. lawsuit that accused the bank of discriminating against female employees for over a decade. in areas of pay, promotion and performance evaluation. the trial was due to begin next month. goldman sachs says that after a more of a decade of vigorous litigation both parties have agreed to resolve the matter. in a statement, the plaintiff said "i am proud the result we achieved will advance gender equity". the $215 million settlement will be divided among roughly 2800 women employed in various divisions of goldman sachs, breaking the numbers down once you strip out the legal fees, it comes to less than $50,000 per plaintiff. on top of the cash they goldman sachs is pain, the bank will work with outside experts to analyse its pay patterns and methods of promotions. this is the latest effort by wall street to address unequal and unfair treatment of female workers. backin treatment of female workers. back in 2007, morgan stanley settled a lawsuit for more than $46 million in which 2700 female

michelle fleury has more from new york.usiness totalled $659 million, an improvement from a year earlier stopping the progress was largely down to price increases introduced last december. since his return as chief executive bob iger has made restoring profitability a top priority. during a call with investors he said it was on the right path to streaming profitability even with the writers strike that is going on right now. when it launched in 2019 disney plus enjoyed explosive growth cost also ballooned. by spending less on bringing in new customers disney is making more money off each one but its subscriber numbers have fallen. the service has roughly hundred 58 million subscribers around the world, down 2% from december, with most of that loss coming from ultra low priced subscriptions in india. while all streamers face the challenge of how to make money, disney does have a big advantage, its theme parks which continue to do very well. profit that the company's parks experiences and products division climbed 22%. let's

michelle fleury reports from westchester, new york.g momentum, and nine rate hikes in the past year the federal reserve does make efforts to cool the economy are having an effect.— having an effect. this is a chain you _ having an effect. this is a chain you would - having an effect. this is a chain you would see - having an effect. this is a chain you would see on i having an effect. this is a - chain you would see on roller shades and for lines.- shades and for lines. thing bill, who — shades and for lines. thing bill, who runs _ shades and for lines. thing bill, who runs a _ shades and for lines. thing bill, who runs a family - shades and for lines. thing i bill, who runs a family owned manufacturing business in new york is seeing firsthand. right now we are — york is seeing firsthand. right now we are expecting - york is seeing firsthand. right now we are expecting some i now we are expecting some softness in the marketplace for six months or so. we are seeing softness in terms of demand. the commitment for long—term blanket orders

we can talk to michelle fleury, north america business correspondent. a huge economic crisis? ., , ., , , avert what could be a huge economic crisis? ., , , ., , ., crisis? people are pretty downbeat on what they _ crisis? people are pretty downbeat on what they expect _ crisis? people are pretty downbeat on what they expect to _ crisis? people are pretty downbeat on what they expect to come - crisis? people are pretty downbeat on what they expect to come out i crisis? people are pretty downbeat| on what they expect to come out of this meeting and that is because you have on the one hand president biden and the white house saying the debt ceiling should be raised without any preconditions but the republicans are refusing to budge and they say they will not vote to raise it unless the government cuts spending quite dramatically in areas that are important to the biden administration so you have a stalemate. any proposals realistically do not have a chance of passing the chambers in congress so you have got the treasury department saying the government co

to investment bankjp morgan — the chance of it missing the deadline is rising day by day, as michelle fleuryill hit the so—called x date — that's when the government runs out of money to pay its bills — without a deal to raise the debt limit. that's according to the banking giantjpmorgan chase, and they say the odds are getting worse. that forecast comes after house speaker kevin mccarthy said on wednesday that he thought progress could be made, but warned that the two sides remain far apart. republicans are demanding that any deal must cut future federal spending, in exchange for raising the debt ceiling — a red line for the white house. on wall street, us stocks fell as investors have been watching these talks closely for any sign of an agreement. and even if a deal is done in time, economists say that, depending on the details, cuts to government spending are likely to create economic headwinds that could bring down inflation. a possible silver lining for the federal reserve, which has been raising interest rates to fight inflation. fed officials are still debating whether to raise intere

from new york, my colleague michelle fleury sums up the mood in washington.

straight to new york now, and michelle fleury.es and also the new york police department. there are some contradictions between the two.— there are some contradictions between the two. , ., , , ., ., between the two. yes, as you heard, the spokesperson — between the two. yes, as you heard, the spokesperson for _ between the two. yes, as you heard, the spokesperson for the _ between the two. yes, as you heard, the spokesperson for the duke - between the two. yes, as you heard, the spokesperson for the duke of- the spokesperson for the duke of sussex described this as a near fatal chase, but the characterisation by the nypd are somewhat different. they called the journey challenging, they also pointed out that there were no arrests, that there were no summonses, that there was nothing illegal. and so that is where you get this different account. then separately, we are starting to hear reports from a taxi driver that at one point in the evening picked up the trio, that is the duke and duchess of sussex, and meghan's mother, doria ra

let's head from the newsroom to new york, to talk once again to michelle fleury.ews from the new york police. have they said anything publicly? has the mayor said anything in terms of official channels? ' . . , ., ., channels? officially we have not heard anything _ channels? officially we have not heard anything yet, _ channels? officially we have not heard anything yet, and - channels? officially we have not heard anything yet, and i - channels? officially we have not heard anything yet, and i think i channels? officially we have not. heard anything yet, and i think as sarah was saying, we are still waiting for this independent corroboration. it is a very dense area, manhattan. they were in the middle of the city at this event, leaving at around 10pm, where we understand that is the point at which this pursuit by the paparazzi began, and lasted until around midnight. there will be camera footage of the streets of new york, no doubt, from some of the surrounding shops and areas, so that is something that can be checked to see if the accounts can be matched, but a

our north america business correspondent michelle fleury has the latest from new york.

michelle fleury, bbc news, westchester, new york.cuss key artificial intelligence issues on thursday. president biden wants to ensure new ai products are fully safe and tested before they are made available to the public. there are growing concerns about the rapid speed of ai technology and how it may be misused. yesterday, over $1 billion was wiped off the stock market value of the digital learning company pearson after us rival chegg admitted that the rise of artificial intelligence chatbot chatgpt is hurting its business. joining me now is dr kate devlin, who's a researcher in artificial intelligence and society at king's college london. thanks for being with us. we talked a lot about al yesterday on the programme after the warnings of that departing google boss. and our business saying actually there is a huge potential here for growth but also we should be very wary of the impact it could have on our core business, who is right? it’s business, who is right? it's difficult to _ business, who is right? it's difficult to say. _ bus

our business correspondent in new york is michelle fleury — shejoins me now. h, isn't it, not economics? it’s week. this is about politics though, isn't it, not economics?— isn't it, not economics? it's a very strange situation _ isn't it, not economics? it's a very strange situation where _ isn't it, not economics? it's a very strange situation where you - isn't it, not economics? it's a very strange situation where you have l strange situation where you have america able to afford to pay its bills, and yet it might not actually do that because of political dysfunction. such as you pointed out in the introduction. president biden had to cut short a trip overseas to continue these negotiations. bear in mind, while we are all focused on these talks between the president and the leader of the house, kevin mccarthy, it still, even if they do reach a deal, has to then when approvalfrom the reach a deal, has to then when approval from the rank—and—file of both parties. so, there is a long path to go. meanwhile, the clock continues to tick down and you've got economi