This is Andrew Peach with World Business Report.
Good to have your company.
In a moment,
reaction to the UK's $2.8bn boost to defence spending and how the markets are feeling about.
Good news on UK inflation alongside a downgraded growth forecast.
Also coming up today, how South Korea is responding to the worst wildfires in its history.
If the top level is engaged and involved, a national crisis can be averted.
But if it's a localized small crisis, the emergency response tends not to be so effective.
And changes to liquor licenses in the Indian state of Uttar Pradesh.
People who consume alcohol,
they're rejoiced because of this decision and they're quite happy
because they're queuing up to buy alcohol for as cheap as possible.
First, the UK Chancellor of the Exchequer, Rachel Reeves,
has announced an additional $2.8 billion in spending for the Ministry of Defence next year,
the latest country to ratchet up spending on weapons and defence capabilities.
This was part of statement where the 2025 growth estimate for the UK has been halved from 2% to 1% by the official economic forecaster.
Rachel Reeves said the word worldwide economics were to blame.
The global economy has become more uncertain.
Bringing insecurity at home as trading patterns.
Become more unstable and borrowing costs rise for many major economies.