BP is working to bring more lower carbon energy to the UK, like developing offshore wind,

and we're keeping oil and gas flowing from the North Sea. It's and not all. That's how BP is backing Britain. Well today we're mostly in oil and gas.

We increased the proportion of our global annual investment that went into our lower carbon and other transition businesses from around 3% in 2019 to around 23% in

2023. VP.com slash and not all. The Economist.

I'm your host Rosie Bloor.

Every weekday we provide a fresh perspective on the event shaping your world. Ukraine's president has spent months asking his country's allies to supply long-range missiles.

But what difference would these weapons actually make in the war with Russia?

And we've had biopics of historical figures, Hollywood icons and pop stars.

The latest trend is designers.

Why, our correspondent asks, is showing fashionistas on screen now so well fashionable. First up though, though.

Today.

Today, the Federal Open Market Committee decided to reduce the degree of policy restraint

by lowering our policy interest rate by a half percentage point.

This decision reflects...

Markets and pundits had been anticipating the move for weeks.

And yesterday Jerome Powell, chair of America's Central Bank, the Federal Reserve,

revealed the decision.

The Fed cut its benchmark interest rate by half a percentage point to between 4.75 and 5 percent. It's the first cut since the pandemic when rates were slashed.

Since then they've been on an upward path to combat raging inflation.

This latest move suggests the Fed thinks it has tained inflation without plunging America into recession,

achieving the soft landing that everyone wants. But it could also indicate worries

about a different part of America's economy.

...