but the economy didn't shrink, as many people had predicted. there was a slight fall in the service sector — but that was offset by growth in engineering and car sales. i'm joined by paul dales, chief uk economist at capital economics. thank you so much forjoining us. of these figures the result of 1a successive hikes in rates? essentially, yes. there are two competing forces, one is quite favourable, and that is the easing of the cost of living crisis, which isn't as bad as it was. the other is the drug from higher interest rates which mean people devote more of their spending to servicing their debts, which means they don't have enough money to spend on other things. the net result is an economy

essentially moving sideways, but on my forecast, i think it will tip into the economy contracting over the next couple of quarters as the drug wins out. the next couple of quarters as the drug wins out-— the next couple of quarters as the drug wins out. that means you are ”redictin drug wins out. that means you are predicting an _ drug wins out. that means you are predicting an official— drug wins out. that means you are predicting an official recession. - predicting an official recession. that is right. we are predicting a mild recession by historical standards. i wouldn't get too worried about whether it is a recession, the big picture is we've got an economy which is weak and essentially on its knees, before the full impact of higher interest rates has been felt. so i think that is the main message, whether there is a technical recession, which is defined as two quarters of consecutive contractions in gdp, or whether we bounce around with the economy moving sideways. the economy is weak. economy moving sideways. the economy is weak- when — economy moving sideways. the economy is weak. when do _ economy moving sideways. the economy is weak. when do you _ economy moving sideways. the economy is weak. when do you think— economy moving sideways. the economy is weak. when do you think it _ economy moving sideways. the economy is weak. when do you think it will -

is weak. when do you think it will go from sideways to forwards? i think that is a story for the end of next year and going into 2025. by that point i think households will be enjoying increases in their income that outstrip the increases income that outstrip the increases in the prices they pay for goods and services in the shops. by that time, the full effect of the drag from interest rates will have started to come through and will have started to fade. we will turn the corner, we will see a better outlook at some point, probably starting maybe in the middle or towards the end of next year. i think it is just for the next six months at least we need to be prepared for not great result when it comes to the performance of the uk economy. 50 when it comes to the performance of the uk economy-— when it comes to the performance of the uk economy. so we shouldn't hold our breath. thank _ the uk economy. so we shouldn't hold our breath. thank you _ the uk economy. so we shouldn't hold our breath. thank you so _ the uk economy. so we shouldn't hold our breath. thank you so much - the uk economy. so we shouldn't hold our breath. thank you so much for- our breath. thank you so much for joining us. staying in the uk, the ex—boss of natwest, dame alison rose, is going to lose out on £7.6 million — that's more than $9 million.

it comes after she admitted discussing the closure of nigel farage's bank account. she is going to get her fixed pay package — worth over £2 million — but won't get bonuses she had been entitled to. theo leggett has more. when alison rose said in july that talking to a bbc journalist about nigel farage's bank accounts was a serious error ofjudgment. but it's also turned out to be a rather expensive error of judgment as well. as you said, dame alison will receive her contractually entitled salary and other allowances until she her period of notice ends injuly next year. that's worth about 2.4 million. so she will still get a fair amount of money, but she would have received more like £10 million. so she was entitled to long—term share options, bonuses as well. share options worth about 5 million,

bonuses something like 2.6 million. so overall, she's going to lose £7.6 million. and the reason for this is natwest says that when she left, which was abrupt, but by mutual consent, she did not qualify as a good leaver. a good leaver is somebody who leaves on a job on normal terms, where you walk out the door with a handshake. everybody�*s happy. well, it wasn't like that. she was not a good leaver. therefore, she forfeited a large chunk of the money she was owed. but natwest did say it had made no finding of serious misconduct against her. so dame alison said that she was pleased with that finding and that she she welcomed the settlement. she was willing to accept it. could this be the big reset the world has been watching for? us presidentjoe biden is going to meet his chinese counterpart xi jinping in san francisco next week. the aim is to try to stabilise relations between the world's two biggest economies. beijing and washington have imposed sanctions on billions of dollars of each others goods.

us officials say "everything will be on the table." let's go to our north america busiess correspondent, michelle fleury, in new york. tell me, are we expecting a breakthrough or am i getting overexcited? i breakthrough or am i getting overexcited ?_ breakthrough or am i getting overexcited? ~ .. , ., overexcited? i think the fact you were talking _ overexcited? i think the fact you were talking about _ overexcited? i think the fact you were talking about high-level. overexcited? i think the fact you i were talking about high-level talks were talking about high—level talks between the world's two superpowers is a good thing. it is important for these leaders to keep open channels of communication. this is only the second time they will have met since president biden took office, and since then if you think back one year ago, since then if you think back one yearago, relations since then if you think back one year ago, relations between china and the us were terrible. they've improved a bit, and this is about building on that. but nobody is anticipating any major breakthroughs. what you can see is a flurry of diplomatic activity,

including a meeting between american and china's top finance officials. in which it was stressed that there was going to be no decoupling, addressing some of the concerns existing in the past. the us has tried to put up roadblocks and put up tried to put up roadblocks and put up restrictions on sales of high—tech equipment to china. so addressing about, but where there is room potentially for cooperation is a statement on climate change. those are the areas they are looking at, to see what they can do together. all of this coming out quite a critical time, all of this coming out quite a criticaltime, both all of this coming out quite a critical time, both in terms of the global economy and concerns about growth going forward, but also geopolitical tensions, not least what is happening in the middle east. it what is happening in the middle east. , , ., what is happening in the middle east. , ., east. it seems almost impossible to disentan . le east. it seems almost impossible to disentangle economics _ east. it seems almost impossible to disentangle economics and - east. it seems almost impossible to disentangle economics and politics i disentangle economics and politics here. , ~ , here. yes, i think there is a couple of areas to — here. yes, i think there is a couple of areas to look _ here. yes, i think there is a couple of areas to look out. _ here. yes, i think there is a couple of areas to look out. one, - here. yes, i think there is a couple of areas to look out. one, climate | of areas to look out. one, climate

change, where potentially you could see room for cooperation. but the reason these dialogue is important is to establish some red lines. the two superpowers aren't necessarily going to cit eyed, but they can figure out that these are the lines we won't cross and where we can work together. that is why people are looking at this meeting as significant, even if there isn't a huge takeaway at bn. michelle, thank ou for huge takeaway at bn. michelle, thank you forjoining — huge takeaway at bn. michelle, thank you forjoining us- _ staying with us china relations — and another meeting between the world's two largest economies this week has been on climate change. talks have born some fruit, with the us climate envoyjohn kerry saying washington and beijing have reached some climate change agreements. he's been speaking to the bbc�*s nick marsh at a gathering of business leaders in singapore. we felt that our four days of talks were very successful. we did come up with some agreements. we're just going through some

process now, but we hope to share them with everybody at the appropriate moment. so yeah, i mean, obviously very important to work with china. but your administration's flagship green policy, the inflation reduction act, as you know, in beijing, that's perceived as being really anti—china. well, no, it's not. in fact, china may benefit like every other country in the world. they benefit from a new technology. now, you know, it was a good and we're happy. we're trying to develop that. sure. but you can do the same thing. you should. every country, i mean, i've heard from germany and france and other countries do the same thing. and we need to all move faster. you know, the chinese government is saying, hey, look, the americans are trying to cut us off from all this technology. they want to get ahead of us in the green race. no, i don't believe that's true. i do not. i would counter that respectfully to any official. i would say, look, what we're doing in this sector doesn't represent the kind of threats that some cyber

activities do or some weapons activities, etc.. that's a different track to national security, climate action, two separate arenas, as far as you're concerned. no, no. i think climate action is national security because it's a threat to everybody. and so for all of us, for china, for the united states, for singapore, for indonesia, for all of the countries, it's absolutely vital that we meet that crisis head on because there's loss of life. if you don't, the spread of disease, there's lost economic opportunity and there are irreversible consequences potentially, which you never come back from. to bangladesh now, where the prime minister — sheikha hasina — has rejected any further pay rises for protesting clothing factory workers. thousands have been demonstrating for the past few weeks, demanding an almost three—fold increase in basic salaries. the garment industry is hugely

important for the bangladeshi economy, accounting for around 85% of its export income. more than 12 million people are economically dependent on the sector. our south asia editor, anbarasan ethirajan, explained what's behind the dispute. now, the garment factory unions, workers' unions, have been saying that the cost of living has escalated so much that they are struggling to make ends meet. for example, the inflation rate in bangladesh is running close to io%. however, the workers say in the past three years, because of the impact of global events like the war in ukraine and the middle east conflict, that has really increased prices. and these people are coming from various parts of bangladesh trying to find a small room in a shanty towns in the industrial zones outside the capital, dhaka. and they they're struggling to pay their rent, feed their kids. that's why they are saying they want a three—fold increase up to $205 a month as a basic salary

for the workers. but the factory owners and the government say that they are giving 56% already. so that is actually more than what many of the government servants would get. and also this will really cut into the profit margins, even though bangladesh exports more than m5 billion of clothes. why these factories are coming to, why the fashion brands are coming to bangladesh because it is cheaper. the low cost of labour is attracting many of the global fashion brands like zara and h&m or even wal—mart come to bangladesh now. it is also having an impact on the global fashion brands, how much they are willing to pay for the factories. let's have a quick look at the markets. they aren't very encouraging, influenced by those comments by the boss of the us central bank that he wasn't convinced they had done enough in terms of rising interest, raising

interest rates to calm inflation. interestingly, in the us those markets have just opened and they have opened slightly up, which wasn't what analysts were expecting. the situation in asia is not very encouraging. that is it from me, taker. goodbye. bbc news bringing you different stories from across the uk. they are the tallest land mammal and have blue—black tongues to prevent sunburn. giraffes are pretty unique animals and these worldwide experts would agree. we want to release them back to an environment full of other reinforcers... they've come together at bristol zoo project to share best practice. so giraffes, for me, are pretty special. 20 years ago when i started in zoos they were the very first animal

i ever worked with and ever since then i've had a real passion for them. the idea of this conference is to basically increase all of our knowledge on training, on things like hoof care, on blood draw and all sorts of stuff like that that we do with our animals. i love this. this is my favourite part of myjob. i love having people come - from all over, get together in one big melting pot of ideas. if you go on safari, you pretty much will see a giraffe, but they are experiencing what we call a silent extinction, so no one really realises that they are disappearing. they're very friendly, i aren't they, as animals? yeah. and they always keep us lovely and entertained. i what do you like about giraffes? they're vegetarian. it isa it is a good example for us all. these experts are sticking their neck sound, speaking up for the plight of the giraffe.

hello from the bbc sport centre. the bbc understands that sirjim ratcliffe's deal to become a minority shareholder in manchester united is expected to be agreed during this month's international break or possibly as early as next week. united's owners — the glazer family — announced almost a year ago that they were considering selling the club. it's expected ratcliffe's ineos group will pay around £1.25 billion to buy 25%. ourfootball reporter simon stone explains.

jim ratcliffe, he has lowered his expectations from 69%, 50%, and now we think the 25%. they are willing sellers. it will be interesting to see how it works out becausejim ratcliffe is not known for taking a back—seat, but clearly it is only a quarter and he has a leading light in the cycling group with him in every sporting enterprise. what part will he pay when this deal is complete? james maddison has withdrawn from the england squad for november's euro 2024 qualifiers with an ankle injury. maddison went down in the first half of tottenham's defeat to chelsea on monday. the club have said he'll stay at their training ground for rehabilitation but didn't elaborate on how long they expect him to be sidelined for. usa football legend megan rapinoe will play her last

domestic game this weekend for her club 0l reign and has