relations including - to the strength of ukjapan relations including visitingl to the strength of uk japanding visiting japan in relations including visiting japan “11975— relations including visiting japan in 1975. ., ., , , in 1975. queen elizabeth will be remembered — in 1975. queen elizabeth will be remembered as _ in 1975. queen elizabeth will be remembered as one _ in 1975. queen elizabeth will be remembered as one of - in 1975. queen elizabeth will be remembered as one of the - in 1975. queen elizabeth will be - remembered as one of the greatest queens full—time for dignity, since of duty, courage and dedication to her people in the uk in the world are morning today. her people in the uk in the world are mourning today. he's not a world leader, but he is a british icon. sir eltonjohn paid tribute to the queen at his final toronto show, calling her an "inspiring presence to be around." she has been with me all my life and i feel very sad that she will not be with me any more. but i'm glad she is at peace and at rest and she deserves this because she has worked so hard. she will be mi

but he did hint we could see price increases across other regions like the uk and japan where the dollarerms of currency there and that's exactly what happened yesterday. >> steve kovach, thank you. >> carl, that's a wrap it's been a busy few days. i was on the east coast. you came over on the west coast. conference season is only getting started. i mean, we're going to be busy. >> it's true we've been saying it for a while. fascinating look, though, at the ways in which companies are looking at costs and regulation and innovation that's been the hallmark of code. >> it felt like a but of caution. >> we've been pleased to be here let's get to the judge and the half. >>> carl, thanks very much welcome to the "halftime report." i'm scott wapner this time the markets and the fed, are the two on the same page again if so, what does it mean to stocks and your money? we debate that we have brand-new buys from our own josh brown joining me for the hour today, the aforementioned josh brown, jason snipe, heaarrington is wi me on site and steve liesman we're going to get to the markets. i do want

all of the major indices opened down, south korea, the australian indices, japan, the uk and the hangre isjust negative sentiment in the market, notjust because of the sterling but probably more because of what the fed is doing to try to get inflation under control. those higher interest rates make things a lot more expensive for many people, not least investors, so they are pulling money out of currencies that are not doing that well like the pound, and investing in stronger currencies like the us dollar and otherforeign currencies like the us dollar and other foreign currencies, and other foreign currencies, and with regards to the uk, many investors do think that, they question the economic plan but as you mentioned, most of all, they are worried that the uk's finances will be stretched to the limits, that will cause higher interest rates, and that will affect growth and it will make it more expensive to borrow money. asian stocks are dealing with a number of other factors that are spooking markets. still that war in ukraine as well which is so closely paired to the us dollar, the

inflation and -- we'll get to a point where japan intervened to boost its yen. the uknow beintervening. how close are we to a global coordination >> may not as close as some of the markets guess. that would be an effort led by treasury secretary yellen, as you know the treasury that leads the currency negotiation efforts right now, i think, again, the hurdle -- again, never say never, but i don't think it's imminent, though druggen midrukenmiller earlier, listen to what he said. >> i don't know, you've been wrong on a lot of things, but since you do it for a living, that's our forecast, recession in '23. >> what is the likelihood? >> i think we'll likely have a recession, it may be a mild rece recession, but i think we'll have a recession i don't thinkist necessarily a hard landing, as stan appeared to imply the last two recessions were the two worst since the crash. we can have a recession when the growth slows, the unemployment rate rises, obviously it's no good if you're losing your job, but it's not cataclysmic i think we can avoid a severe recession. >> so my fina

dollar, so to what stenlt might it price the product materially different in the uk, where or in japan, where the dollar is strong against the yen. lastly, i'm looking for a new value product. it looks like they're giving up on the lower-priced iphones haven't done amazingly well, but i think the setup is good for the stock. what are you expecting or hoping for? >> i think this cycle will be more about the more expensive pro model, trying to get more money out of the customers, squeezing the apple for more juice. that's been so important in this cycle going back to the 12, the 13 model, investors, and analysts are betting that can continue another year, even if unit sales slow or don't grow, the expectations is revenue can grow >> i guess we still call it a phone, is there a limit? at some point in the next couple years, will we have a $2,000 phone, because nobody will care, they're just going to pay the monthly bill, not the total price? >> there is a limit. i like the comments from steve earlier, which are consistent with our white paper on, you know, i think apple will at some point

to make multiple adjustmented to their prices and local currency for the iphone 14 thank the uk, europe, japans an example the good news is the core consumer has shown a willingness to devote larger percentage of a smaller amount of discretionary income on apple's products so i think at the end of the day, the company stock will be more than okay. >> when i see shares of apple down 4% now, leading the nasdaq lower as well. we're at $1.45 do you stick to your buy rating and your price target or are you rethinking that right now? >> i definitely stick to it. the other reason i think about why i remain bullish on apple over the next 12 to 18-month period, the company still generates a lot of significant cash flow and uses billions of dollars in that free cash flow to buy back its own stock. i do think despite the challenges in particular, the strong u.s. dollar and concerns about global recession, i think the stock is still compelling here for the reasons i've outlined >> just to broaden this out a little bit beyond apple, looking at your coverage universe in general, whether it's the strong doll

glinkin meets with representatives of australia japan new zealand and the uk will discuss measures toont china in the pacific region central bank. germany reports that germany expects a recession and double-digit inflation. well, the european tour industry will lose 21 billion dollars a year without russian tourists cheerfully reported the european commission, society. from the luhansk donetsk republic, they asked to hold a referendum on joining russia, the heads of the republics of the appeal supported the leadership of the administration of the kherson region and decided to hold such a decision.

when they convert that back to dollars, you're basically bringing in less revenue it's not just japan. the uk a 24-year low against the u.s. dollar as the economy there softens and inflation remains at the highest in decades u.s. companies with exposure to the uk according to goldman sachs mining with 69% revenue generated there, ebay and etsy with high exposure to the uk the weaker currency pressuring uk equities, not so much the ftse that tracks nationals, but the ftse 250 which tracks the domestic companies that tells the story you'll see nearly 20% so far this year. the euro certainly challenged by all of this trading at a 20-year low against the u.s. dollar as we await the european central bank to make a decision on interest rates this thursday the expectation is 50 to 75 >> the euro parody to the dollar makes it easy traveling there. if it's $500 it's 500 euros basically. u.s. companies doing business in europe or in england or japan are bringing back fewer dollars for each transaction. >> this becomes a headwind for all of these multinationals. it really questions whether diversificati

stuart: >> we would have prices kept the same in china and the us, but they are going up in the uk, australia, japanonsumer, how much are they willing to spend for expensive devices into the holiday shopping period, and inflation, what you charge consumers and slowing economic environment and supply chains? most will ship in the next few weeks, supply chains and rolling covid lockdowns not having impact on this round of apple devices. it is beautiful here. stuart: it is a beautiful city, or it was when i lived there many years ago. thanks a lot. fed chair powell says the fed will keep with rate hikes, keep going with rate hikes until the job of fighting inflation is done. watch this. >> it is very much our view, my view we need to act now as we have been doing and keep at it until the job is done and avoid the kind of high social costs that paul volcker and the fed head to bring into play to set us up for long period of price stability. stuart: stephen more knows about this kind of thing and brings me now, i just heard jay powell say he doesn't want to do a volcker. back in the early 80s. >> volcker

we're seeing it in the uk and j europe and japan and can see it in the u.s they might have been a recessiona hard landing. it's more likely with the big type of moves that we're head ford a global recession vent. >> do you think it's worse now >> i think about several shows ago. what is worse, recession or stagflation? a recession with an inflationary recession wasn't an option we're seeing that really is the worst situation. that's you see such volatility in the bond market in the you are kency market, typically bonds, currencies, these are markets where you scale your trade because the actual far out paces the move and volatility that you typically see. not to mention these are also leverage bets. so these moves are going to continue to be exacerbated the moves we saw last week in terms of the british pound are pushback because traders are essentially saying these moves that we're seeing in terms of fiscal policy are erroneous or error or going to lead to worse financial situations that ten year move, trading around 435 that is significant. i think you're seeing that trickle down effect i

huge contagion effect we have seen of the rise in uk long—term rates spilling over into europe, in the euro zone, in the us, even in a certain extent to japan. {lila uk rather unpopular with the rest of the world.— uk rather unpopular with the rest of the world. ok, for now, thank yon _ rest of the world. ok, for now, thank you. mark _ rest of the world. ok, for now, thank you. mark 0stwald. - rest of the world. ok, for now, thank you. mark 0stwald. we i thank you. mark 0stwald. we will speak to you again soon. the uk's international trade secretary kemi badenoch is in new york on her first overseas trip. she's been making a pitch to investors — despite the fact a wider post—brexit trade deal with the us appears to be off the agenda. but she's been forced to address the market turmoil and defend the government's policies — as the bbc�*s michelle fleury reports. on her first trip to new york as britain's international trade secretary, kemi badenoch sought to convince people that the tax and spending plan announced last week was, in fact, the best way to address the country's economic challenges, which include high inflation and skyrocketing

thanks to our relentless diplomacy, the uk, the eu, austria, japan, south korea joined the united statesioning russian financial institutionsns. including revving seven of russia's largest banks from the swift payment system a move i championed. today, more than 1000 russians have their acid to frozen abroad but more than 1000 companies have ended operations. this is not just about seizing ritzy yachts it is about silencing the guns of putin's military. asthma and the destruction of homes and hospitals, farms and schools. it's about faulting the mass remains alive. so we must keep up our support of arms and weapons, so too must we keep up the pressure ofc economic sanctions buried today at like to focus on what comeses next. in order to keep the pressure up. first are sanctions having the desired effect? we impose sanctionsio not to punish but to constrain and ultimately change behavior. have that sanctions change calculus at all? if not perhaps the coming months. i would like to hear clear assessment of how current and planned measures to further strain the russian system in the coming

but the uk does work with its allies, whether it's japan, another perfect ally with the united states, with canada to make sure we have a common response. of course, i discussed that with president biden. >> the bank of england just raised interest rates and said the uk may already be in a recession. are they right? >> that's a matter for the bank of england and for the gdp figures, the official figures. i think what is certainly true is the world is facing an economic shock. first of all, the aftermath of covid and secondly the russian invasion of ukraine, which has pushed up energy prices. what i'm determined to do as prime minister is make sure that we are doing all we can to grow our economy, all we can to attract business and investment into the uk, so that we have a clear pathway to becoming a higher great economy. that's what i'm focused on. >> your government revealed a new tax plan. you also proposed lifting the cap on bonuses for bank executives. in the u.s., president biden is taking a very different approach, and obviously he has a different view on economic measures such

uk diplomatic missions abroad. they've been laying flowers at the british embassy in washington, d.c. and in japanne as people lay floral tributes at the front gates of the uk's embassy in tokyo. and in paris french president emmanuel macron visited the british embassy there to sign a book of condolences. tributes and farewells are pouring in from celebrities across the globe. amongst them daniel craig, who is james bond of course, faked jumping from a helicopter alongside the queen for the 2012 london olympics. the actor called the queen's legacy incomparable, adding she will be profoundly missed. and helen mirren, who won an oscar for portraying queen elizabeth, said, and i quote, "we mourn a woman who with or without the crown was the epitome of nobility." >> tea? >> oh, yes, please. >> even paddington bear, who just recently visited buckingham palace for tea with the queen in celebration of her platinum jubilee, tweeting out "thank you, ma'am, for everything." i'm becky anderson in london. our live coverage here outside of buckingham palace continues after this short break. if your moderate to

. >> it's a key point you make, and certainly the issue of credibility where the uk is concerned, where japanwhere china is concerned looking at what's going on there with fx this morning. we had so much fed speak they're doubling down on what you could argue is a volcker playbook it seems the fed is year there's a credibility issue the world over but they need to hold pat, stand pat on inflation and, of course, we're now retesting june loes the s&p below that and it does seem like the technicals are going to get -- >> you have to admire the single voice they've been speaking with they're not cracking the fed put isn't there. certainly no evidence it's there right now. now worry at a very interesting level. 3600 or so this is where slightly more bullish analysts think we will s stop the numbers are 3,000 to 3600. you have $200 for earnings and 15 times forward that's what people instead of being quasi recessionary number, the current estimate is 332 for earnings you drop the numbers 10, 15%, keep the multiple around 15, which is low in recessions it can go to 13. that's a low number. 3,000 is

because of you, paying the repayment of utility bills in the uk are already playing typhoons on television. and we nor walked through japan strong spoiled the weather in primorye and in the neighboring region at the same time waiting for warm weather. and first, in these very minutes, vladimir putin at the sergeysky training ground in primorye, where the final phase of the vostok 2022 strategic exercises began about an hour ago. a group launch of iskander m.a missile systems was carried out there a little earlier, according to the presidential press secretary. the head of state held a closed meeting with defense minister sergei shoigu and chief of the general staff valery gerasimov putin arrived in vladivostok from kamchatka last night, right next to the plane, despite heavy rain i talked with the governor of primorsky krai oleg kozhemyaka. today vladimir putin will hold a meeting of the state council presidium, which will be devoted to the development of domestic tourism, and will also take part in the eastern economic forum. at the forum itself , the main program was opened today, more than 70 different events are plann

1985 type accord where the five major countries in the world united states, west germany, france, japan, and ukr to weaken the dollar there is going to be some kind of a move, i fear, because that in turn will give rise to market distortions, as we found in 1989-'90, that started the japanese market collapse, and if we do intervene, it will weaken the dollar but it will cost absolutely new problems for the global markets >> right you mentioned, i should note, the dollar index, hits a fresh two decade high, breaching 112 dana, in a world in which the ten-year yield goes 4% or higher, what is the approperate valuation for markets. because we're right about 17 right now. >> yeah, no, i think it's a really important point and maybe what gets lost a little bit when we're looking at just the technicals and what's going on in markets and how the reaction is happening real time, because rates are moving so high, but the long story here is that we have had ten years of essentially free money, and if you just look at all the empirical evidence we have on markets, how markets behave, decades of research h

the united states is busy creating the pacific version of nato partnership us new zealand japan australia and the uk will they be friends? i think there is no need to explain alexey , thanks to evgeny tishkovets, but to the real land of the rising sun, the combat rake of the pacific fleet and the naval forces of china jointly repelled an enemy air raid of the legend of today's stage of the vostok 20-22 strategic exercises as part of maneuvers in the waters in which the sea of ​​​​japan had air defense was worked out, the maneuverability of naval aviation was tested, also russian and chinese military sailors, trained to destroy sea mines spectacular shots in the nevskaya material. well, it’s better not to meet him in battle with the frigate of the pacific fleet, marshal shaposhnikov is ready and for air defense and skating of surface and coastal targets, modern large-caliber artillery, will not leave the enemy a chance, missile system. uranium is capable of hitting surface targets at a range of up to 2060 km, the complex is up to 1,500 caliber in peter the great bay. as part of the fregat exercise, i

hurricane in the kursk region and the maximum level of anxiety in japan, typhoon hit the islands the last journey of the queen in the uk today is the funeral of elizabeth ii well, as well as the siberian character, the best in stability, the best in yield, the most unpretentious russian breeders took up domestic varieties of potatoes. kursk region comes to his senses after a powerful hurricane, eyewitnesses share footage of what was going on a huge tornado funnel there is a strong wind, literally metallic. everything in its path is dozens of uprooted trees, torn roofs from houses , damaged power lines, without electricity. there are still about 80 settlements working repair teams. almost fifty rescuers help them, unfortunately, there were no casualties. a student of the aviation technical autotechnical college died. he was wounded by a piece of broken glass, and also a man was crushed by a fallen tree, and in japan more than 50 people were injured due to the effects of a powerful typhoon on the island of kyushu, almost all of its territory declared the fifth maximum level of alarm in several provinces gusts. winds reac

and china, their two largest markets but they are raising prices in japan, in the uk, in germany, in dollar. the u.s. dollar hit highest in almost 40 years versus the japanese currency but you're getting pretty generous subsidies as well. $800 back on iphone 14 from some of the telcos. they need to drive consumer demand for expensive devices to give out more money to lower the price. neil: thank you for that. get home safe, susan li, san francisco, california. a great backdrop, a beautiful scene. the whole world sees us a haven, but if you're a multinational, intel, some of these others, that means when you have to translate foreign revenues and earnings getting back less u.s. dollars. ray wang is that a concern for you? >> it actually is. you're seeing a strong dollar. you're seeing a lot of earnings reports people are reporting the fact that the dollar currency exchange, foreign exchange issues are impacting revenues. so we're seeing that pop up all over the place in for casting guidance especially in this last quarter. neil: what are we looking at here for technology companies spe

japan. it has been dubbed funeral diplomacy. we expect to see from the ukevent. there have been many protests throughout the week and many more are planned today. many people are questioning the legitimacy of holding this as a state event, usually for the imperial family members here, and the last time that a prime minister had state funeral was 55 years ago. $11 million will be spent on it and people are questioning whether thatis people are questioning whether that is money well spent, with concerns about the cost of living, and also as someone who spoke to miss reid earlier said that money should probably be spent to help those people who have been affected by that typhoon, as well. there was one girl in her 20s said she supported the state funeral for shinzo abe you contributed greatly to the country, when he was prime minister but even after his death, opinions on him are very much split. we will be following those developments as the funeral moves into play a bit later in the day. the cypher of king charles iii has just been revealed by buckingham pal

the united states is busy creating a pacific version of nato partnership usa new zealand japan australia and the ukbe friends? i think no need to explain. and by the way, returning to japan, the russian government today terminated two agreements with this country at once. according to one. of these, its citizens were entitled to facilitated visits to the kunashir islands and the corpses of the lesser kuril ridge. and according to the second, there was a procedure for mutual trips for a long time ; let me remind you that both agreements were reached back in the nineties. however, now there are no friendly actions. tokyo led to their annulment. what, in principle, investigated expect. president putin today expressed condolences to the family of boris lagutin, the legendary boxer, two-time olympic champion and two-time european championship, who, let me remind you, passed away the day before at the age of 84. vladimir putin noted in his telegrams that lagutin left a bright and truly triumphant mark in the history of russian sports, and also did a lot for the development of the physical culture movemen

. >> we do have the uk close today as well as japan britain is saying a final good-bye to queen elizabethi steve is on the ground in london with the latest. good morning, steve. >> good morning to you, carl quite extraordinary events here in london and later on this afternoon, in windsor. we are about two-thirds of the way through a day of the state funeral. we started off this morning where we saw the queen's coffin, which had been lying in state for four days, move from westminster hall in the palace of westminster behind me, move just a few hundred yards, 10:44 a.m. this morning, to westminster abbey, where the state funeral was conducted by the archbishop of canterbry. sermons included one from liz truss. that lasted around 55 minutes. thereafter, we saw this extraordinary sight of the queen's coffin being carried on the estate gun carriage pulled along by 142 naval officers all the way through white hall, up the mall, past buckingham palace and up to constitution hill. it's an enormous procession, commemoration of the queen's 70 years reigning in the united kingdom. the crowds in lon

in china and japan officials are bracing for powerful typhoon which already swept through taiwan. in the uknnounce the next prime minister tomorrow morning after friday vote among lawmakers. foreign expected to win against treasury secretary. vatican city, pope francis -- pope jon the first to die just 33 days after he was elected pontiff in 1978. it is the final step before possible sainthood. in germany, a survivor of the nazi concentration camp returned they are 78 years later with his family. tomorrow he will visit munich where he survived a massacre of israeli athletes at the 1972 olympics. that is a look at some stories from around the globe. sometimes you just have to grin and tear it. this bear dropping by unannounced at some homes. we will tell you where and what finally drove our furry friend away. it was not honey to go. that iwes next. >> customer: and they recycled my old glass. >> tech: don't wait. schedule today. >> singers: ♪ safelite repair, safelite replace. ♪ (vo) get verizon business unlimited from the network businesses rely on. like manny. event planning with our best

uk. she grew to see elizabeth as her queen. >> [ speaking non-english ] speaking non-english ]>> reporter: she is just one of a number of people in japan that feel a connection with queen elizabeth, and are devastated by her death. reporting for nhk world. >>> queen elizabeth visited japan in 1975, three decades after the end of world war ii. the crowds gathered to witness this historic momentthe very first visit from a british monarch to japan. many got to see her during that six-day trip. that includes a top japanese hatmaker that was at the start of her career. she says she felt inspired by the queens fashion. >> [ speaking non-english ] >> the queen showed me a world i was not aware of. she gave me an opportunity to look outside of japan. she was a graceful and wonderful person. i wish i could have had more time to admire her loveliness. >> [ speaking non-english ] >>> the trip was a cultural exchange. e queen and prince phil got watch acto and nhk stio , rehearse for a historic drama. [ indiscernible ] played the made mainrole. he said he was distracted to look at her. >> [ speaking non-english ] >> the queen forged ties with the

will follow the uk's trajectory just as it has in the past. >>> it's a different story in japan and eitherarts of asia. they are removing covid restrictions and reopening to tourists as they try to revive their economies. michael holmes has the story. >> reporter: soon these streets of tokyo could be filled with more visitors to the city as japan and many other places in asia lift many of their remaining covid-19 restrictions. in some cases in place for more than two and a half years. as of october 11 japan will fully open to all tourists, not just those on guided tours on people who book through registered travel agencies, who started trickling in over the summer. it's a sigh of relief for businesses who rely on the income generated by the visitors. >> translator: until now i felt the atmosphere in the streets was a bit sad and lonely but the fact that tourists can come will make it more cheerful and fun. i can't wait for everyone to arrive. >> reporter: across asia coronavirus pressures are being relaxed if not dropped to keep up with other countries who have already reopened with the ho

japan and swiss national bank. >>> european markets are trading in the red this morning. uk markets are closed to honor her majesty the queen and funeral proceedings. outside of the uk, dax is trading down .30%. equities finding a floor this morning. more resilience in the spanish and swiss markets. it is red across the board as investors brace for the central bank meetings. >>> on to wall street. u.s. futures also looking at a weaker start to trade. all three majors indicating a down start to trade. this follows on the selling on friday all three majors slipped in friday's session dow jones transports with the worst day since may. the s&p and nasdaq with the worst week since june. nasdaq dropping 5% overall we are in for a weak start today which is in continuation from last week. >>> and finland could see $8 billion in compensation if germany national lists unuper. berlin could take acontrolling share of the company germany bailed the utility out in july after gazprom's decision to halt gas flows to the country. >>> the french government is expected to file the offer to nat

pcr tests for international visitors to japan, but will that be enough to encourage tourists to come back? welcome to bbc news, broadcasting to viewers in the uknd around the world. it's 8 in the morning here in singapore, and 1am in london, where the new british prime minister liz truss has moved into downing street, having accepted the queen's invitation to form a government, and she's already made some key cabinet appointments. in her first speech as prime minister, liz truss promised that britain could "ride out the storm" caused by severe global headwinds. speaking outside number 10, she said she would transform britain into an aspiration nation. our political editor chris mason has the story. a day of ritual and whether. the cloudburst puncturing the choreography of the new prime minister's arrival and supporters under umbrellas, and on the left turn wearing a bin liner. it on the left turn wearing a bin liner. . , ., ~ . ~ liner. it was even taken back inside. liner. it was even taken back inside- her _ liner. it was even taken back inside. her motorcade - liner. it was even taken back. inside. her motorcade playing for time with a deto

visitors including foreign ambassadors to japan as well, including kamal harris, us vice president as well as the rendering modi and we have james cleverly from the ukn many state protests throughout the week. many are being held even today and people are questioning the legitimacy of holding this as a state funeral which is usually for the imperialfamily which is usually for the imperial family members. which is usually for the imperialfamily members. he is only the second prime minister to have a state funeral. the last one 55 also the cost because the japanese government is some $11 government is spending some $11 million to hold this event. of course, they are spending quite a lot of money on security as well as hosting those overseas visitors being as visitors being dubbed as funeral diplomacy over three days. but time, days. but atethe same time. is a days. but atthe same time. is a of people to? 7 z: 7 to pay to pay to “gee l” is abee e—ee is a table shinzo abe. there is a table for flowers shinzo abe. there is a table forflowers and shinzo abe. there is a table for flowers and the table has every ten minutes to be cleared every ten minutes b

and at the same time, japan's main island upon you, some foundry downpours in the forecast for you see soon the there was a time when the uk of van gogh over the clouds were enough to sustain life in the northern color, harry desert all year round. 2 but that's changing least one or 3 men in different parts of the van go down as they faced drought one of the animals and manmade in the constant fight for survival, risk and all. but swan and i'll just lou . ah, we want to go to 0 reminder, our top stories, this are russian president vladimir putin sans to partial military mobilization to boost the special operation in ukraine. it comes ahead of referendums by moscow backed separatists and for ukrainian regions. they want to become part of russia. ukraine wars dominated speeches of the un general assembly. the number of western leaders of accused russia of a return to imperialist u. s. president joe biden is also expected to address the war later on wednesday. i can fiano, still gaining strength as it rips through the caribbean. it's now been classified as a category for storm. the hurricane left a trail of destruction in the

japan prepares to hold a state funeral for former prime minister shinzo abe, who was shot dead during an election rally injuly. and the uk'sion labour party vows to reverse the government's cut to the top rate of income tax, its leader saying there's confidence his party can win the next election. the hope of a labour government has turned into a belief in a labour government, and that change, that switch, is worth its weight in gold. live from our studio in singapore. this is bbc news. its newsday. welcome to bbc news, broadcasting to viewers in the uk and around the world. it isa it is a six in the morning here in singapore, and midnight in italy. exit polls there suggest far—right leader giorgia meloni has won italy's election, and is on course to become the country's first female prime minister. she is predicted to win between 22—26% of the vote, if they are confirmed, ms meloni will aim to form italy's most right—wing government since world war ii. for the latest, we can cross live to rome and our correspondent there, mark lowen. you have been across this story from the very start, and what a busy evening it has been

the uk defence ministry said president putin could announce the annexation of those regions when he addresses the russian parliament on friday. hugo bachega, thank you. the state funeral of japan'sking place in tokyo. many world leaders are attending, including the us vice president, kamala harris. but the decision to hold a state funeral has proved controversial, with some people worried about the cost, and about the close links between mr abe's party and the controversial unification church. 0ur correspondent, mariko 0i, reports from tokyo. akie abe, the widow ofjapan's longest serving prime minister, carries his ashes to his state funeral. 4,500 people attended to pay respect to shinzo abe, who was shot dead injuly in a rare case of violent crime in the country. among those attending today were the us vice president kamala harris, india's prime minister narendra modi and the uk's former prime minister theresa may. outside, a long queue of people also waited for hours to express their condolences, butjust as when he was prime minister, mr abe's state funeral has divided opinion. translation: i'm about to pay for a tribute to mr abe - because of his contribution to the country,

uk course. the pound sterling hit its lowest against the dollar since 1985. now the value of the official currency of 1.13 dollars continues to weaken and the national currency of japan to to support the yen the country's central bank for the first time in 24 years conducted foreign exchange intervention kiev continues to attack the civilian population. donetsk, these terrible shots. we have just received a lot of casualties during the shelling from the open market, reported from five dead, a bus has been destroyed, the exact number of those hit by artillery is being specified another victory for democracy and freedom of speech in lithuania about public information. took seven new the ban will be in effect until october 1, 2024. a large-scale bike ride a day without a car from the lebyazhy water park started more than 100 representatives of the capital 's organizations, leaders of the municipal sector of industrial enterprises and the education sector . they are far away in gorky park, a run of electric devices started at the start of an electric scooter, a segway unicycle and scooters for those who today chose eco-friendly transport instead of cars giving fruit at s

sort of, get to that in a second uk raising rates by 50 basis points three of the nine voters wanted to go 75 norway up by 50. indonesia up by 50 switzerland, 75. japan, keeping rates unchanged, but doing foreign currency sbr vengeance for the first time since 1958 turkey going its own, cutting rates by 100 basis points. and of course, weakening its currency there all of this coming after the fed's third 75 basis point increase, signaling more to come than markets expected. here's the outlook for the fed topping market expectations. significantly fed chair powell says he thinks it's likely the fed actually hits that forecast, so he embraced it. powell said that there may come a time when the fed stops and waits to see what impact it has on the economy places like housing, but now is not that time. >> first off, turkey, to your point. fleetwood mac of central banks going their own way. i don't know how that's going to play out we'll find out steve, i saw you try to pin down chair powell yesterday you asked about linear moves basically, why not just take sort of a pause between meetings he kind of dodged and weaved and of course, he's not going to say,

from the yen which, of course, that's a special situation, the bank of japan, the lone holdout with dovish policy. of course, the uk, you know, everything is a situation and the bottom line is, the global economy is in a much more precarious state than the u.s. economy. the drivers of this inflation are complex. everything from demand to multiple supply shocks and so the monetary hammer coming down so hard is really straining things and it's been an extraordinary couple of weeks. >> what's your view on what is unfolding around the world complicates the fed's battle and it's really aggressive stance that it's been taking? >> the clear message from fed chair jay powell is that they're a one-mandate central bank right now. they're worried about inflation. and that means that other things, including the health of the rest of the world are unfortunately rather low on their list of priorities what you're seeing in the markets is really the logical result of what the fed told us last week, is that they're prepared to cause a recession to get inflation back to their 2% target their forecast now is for an unemployment rate

japan intervened in their own currency market. how does that change the charts for you? >> the strong dollar is causing absolute havoc in the economy. the u.s. pound at -- excuse me, the uk pound at the tenure low. they have a vested interest for that trend not to continue as they are all heading into recession. i think the doj kind of put out a line in the sand today indicating no more. whether they will be successful on that is unclear at this point. i think what really needs to happen now that the fed has become so aggressive is that the ecp really step up on their race hiking gang. the ecb gets more aggressive, and that maybe actually slowing down. to put pressure on the dollar, as well. absolutely key to watch. >> in terms of company earnings, we have certainly seen the effect of the strong dollar on companies like microsoft and l4. they're thinking among the investment community. maybe this is only temporary or looking beyond the strong dollar on those earnings. is that properly priced into the market for some of these large-cap companies? >> well, if you look at the economy going into recession, which i think it will if the fed continues on this extreme tightening

japan look pretty different and so just diversifying what you're holding geographically gives you some access to other places where stagflation is less on the agenda than certainly in europe and the uke stagflation here but it has other problems and some of them potentially bigger when it comes to geo pliolitics. it's getting worse on taiwan, between taiwan and china, the u.s. make a move for nvidia, a certain ban on exports why is china a good bet with that going on, at the same time it's locking down millions to deal with video? >> i think the risks you paint in china are absolutely true, and cannot be ignored by investors, should not be ignored by investors it's matter of kind of diversifying your risks and not having your whole portfolio in wealthy country stagflation. the chinese risks are true, they're real, some of them have knock on effects on us if there's a serious heating up on taiwan that could hurt supply chains all over the world and with china you are getting compensated for the risks in a different way. if you basically say what do earnings have to do in china at a time where policymakers need to stimulate rather than need to cut back and, you know, make sure that in

japan did last thursday. but according to colleagues at bbc business, these are two very different operations. so, not quite the same. we also heard from the the uk is delivering the growth plan and _ what we're focusing on is delivering the growth plan and making - what we're focusing on is delivering the growth plan and making sure i what we're focusing on is delivering i the growth plan and making sure with things— the growth plan and making sure with things like _ the growth plan and making sure with things like energy— the growth plan and making sure with things like energy intervention, - things like energy intervention, people — things like energy intervention, people right _ things like energy intervention, people right across _ things like energy intervention, people right across this - things like energy intervention, people right across this country things like energy intervention, i people right across this country are protected — people right across this country are protected. without _ people right across this country are protected. without growth, - people right across this country are protected. without growth, you i people right

uk raising rates by 50 three of the nine voters wanted to go 75 norway up by 50. indonesia up by 50 switzerland up by 75 japanunchanged, but doing foreign currency intervention, as carl mentioned earlier, supporting the yen a bit. turkey, marching to its own tune cutting rates by 100 basis points to 12% in the face of what looks like 80% year over year inflation, all of this coming after the fed's third 75-basis point increase. markets had already ratcheted up th 4.6% for next year and that top market expectations caught up, now the market is on board with that 4.6% peak rate. fed chair powell said he thinks it's likely the fed actually hits that forecast. >> we've written down what we think is a plausible path for the federal funds rate the path we actually execute will be enough it will be enough to restore price stability. this is something that, as you can see, they've moved up. we're going to continue to watch incoming data and the evolving outlook and ask ourselves whether our policy is in the right place as we go >> powell said there may come a time when the fed stops and waits to see what impacts the

japan in 2011, and already in 2018 news. of these, which cannot be cured, flew in from the uk and new zealand, according to our statistics inugs killed 1 million 270,000 people worldwide, and about 5 million died from related causes, according to experts from aids and malaria. today, fewer people die than gonorrhea, according to the world health organization, in 2020 there were 82 million new cases of the disease in the world among adolescents and adults aged 15 to 49 years. moreover, the global incidence rate was 19 cases per thousand women and 23 cases for thousands of men, and we are all kind of covid. that's what's coming or not coming. well, i would not say that it will, firstly, a respected swedish scientist made an extrapolation for 10 years ahead. and we all know how extrapolations sometimes go wrong. the story that london will be littered up to the third floor with cow dung just before the advent of the car, that is, this horse dung before the advent of cars. here it is, as it were, entered the classics. secondly, the problem is really highly resistant to antibiotics, and bacteria have not gone away. and not only w

uk begins long good-bye to the queen cac quarante up 81 dax higher by 220. in asia overnight, many market closed for holiday mainland china hong kong south korea closed japan hipresident kamala harris is all-in on 2024 reelection bid apparently with president biden what she said yesterday. >> -- the president has been very clear. that -- intends to run again, and if he does i will be running with him. >> not everybody in democrat party is onboard congressman ken ryan suggested time for a quote generational change inline as former democrat senator mccaskill says her party has image issue among leaders heading into midterms, president biden will be 80 in november, nancy pelosi is 82. joining the conversation all morning long jackie deangelis, liz peek,the ages are least of problems i guess you could add that to the list. >> absolutely, i am listening to sound bite second time you know kind of fibbing saying we don't have a problem then they will probably o run with bidened everybody knows they are not getting along behind scenes she field sidelined why made some moves that she has, i think that president biden,at 80, is going to be in a weak position to run esp

responses from countries as far afield as japan and the united states and european countries, the european union, those tributes are coming in. but for the people of the ukom the queen has been the symbol notjust of authority but a symbol of real solidity and of consistency over the years. taking that symbol away, albeit with a new monarch, king charles iii, a very familiarfigure, but taking monarch, king charles iii, a very familiar figure, but taking that symbol away, it will have an effect on people's lives, even those who are not dedicated monarchists? it is are not dedicated monarchists? it is a hue are not dedicated monarchists? it is a huge loss — are not dedicated monarchists? it 3 a huge loss and many people will find it disorientating, the feeling that this person who has been such a constant presence in the background of their lives, that this person is no longer there. it is hard to take it in, speak of her in the past tense, to fully appreciate that this reign, the longest in british history, is finally over and so many people over the years have said we wish you could reign forever, that she could go on forever and clearly thatis she could

uk's economic catastrophe, the pound sterling hit its lowest against the dollar since 1985. now the value of the official currency of 1.13 dollars continues to weaken and the national currency of japan to support the yen, the central bank of the country for the first time in 24 years held a foreign exchange intervention. kiev continues to attack civilians. donetsk, these terrible shots. we have just received in the course of shelling from the side of the open market a lot of victims reported about five dead destroyed, the bus is the exact number of those who fell under shelling.