:00:00. > :00:16.Now it's time for World Business Report.
:00:17. > :00:22.The Fed raises interest rates and says it will start
:00:23. > :00:25.unwinding its $4.5 trillion stimulus programme.
:00:26. > :00:29.But is the US economy really out of the woods?
:00:30. > :00:34.The EU scraps extra mobile charges for travellers from today
:00:35. > :00:46.But will users end up footing the bill anyway?
:00:47. > :00:57.Also coming up: The end of an era for Japan Inc.
:00:58. > :01:02.Toshiba's set to sell off its chip division as it battles for survival.
:01:03. > :01:05.We start in the US where the central bank, the Federal Reserve,
:01:06. > :01:09.has raised the cost of borrowing, as was widely expected.
:01:10. > :01:12.It's the second increase in three months, and comes despite some
:01:13. > :01:15.fairly mixed data on the health of the US economy.
:01:16. > :01:23.The Fed has raised its main interest rate by 0.25%.
:01:24. > :01:27.That takes its target range to between 1-1.25% -
:01:28. > :01:32.the highest it has been since before the 2008 financial crisis.
:01:33. > :01:40.The Fed is forecasting one more
:01:41. > :01:43.It also announced plans to begin selling off this,
:01:44. > :01:46.the $4.5 trillion worth of bonds and mortgage backed securities it
:01:47. > :01:49.bought up in the wake of the financial crisis,
:01:50. > :01:53.effectively pumping money into the financial system under
:01:54. > :02:00.There's no word on the timing of this though.
:02:01. > :02:08.Michelle Fleury reports from Washington.
:02:09. > :02:15.It's still the E-Z-GO is that America's Central Bank. Officials
:02:16. > :02:21.here are determined to stay the course of slowly but steadily
:02:22. > :02:26.raising interest rates. Fed chair Janet Yellin explained, with the
:02:27. > :02:34.world's largest economy improving, this and further things are required
:02:35. > :02:46.to stave off inflation. We expect gradual injury -- increases to
:02:47. > :02:53.stabilise inflation around the two 2% objective. But not all signs are
:02:54. > :02:58.good. Retail sales dropped sharply. It's not shown in American spending.
:02:59. > :03:03.US investors are a different matter. Stock markets continued to hit
:03:04. > :03:08.all-time highs. So, is it full steam ahead for further rate rises? I
:03:09. > :03:12.don't think the Fed is giving a massive vote of confidence. I think
:03:13. > :03:17.they are saying they can ease off the accommodation a bit, so really
:03:18. > :03:22.they are still looking at two aspects of the economy, what they
:03:23. > :03:25.can help and what they can't help. With the Trump Administration
:03:26. > :03:29.struggling to enact its economic agenda, more than ever, control of
:03:30. > :03:33.the US economy lies here, with the Federal reserve, and today's
:03:34. > :03:40.decision to raise interest rates is an example of the Fed doing what it
:03:41. > :03:45.had carefully signalled it would do. But Janet Yellen can't do everything
:03:46. > :03:47.and, with economic data mixed, further decisions may not be as
:03:48. > :03:48.clear cut. on a huge day for struggling
:03:49. > :03:52.Japanese tech giant Toshiba. it's expected to announce
:03:53. > :03:57.who will buy its memory chips unit. Toshiba's been forced to sell
:03:58. > :04:00.off its crown jewels after massive losses at its US nuclear division
:04:01. > :04:04.and a major accounting scandal has Sharanjit Leyl is
:04:05. > :04:21.following this for us. Well, Sally, they delayed their
:04:22. > :04:25.earnings before, and guess what? They are delaying the announcement
:04:26. > :04:29.as well of that head of the prized memory chip is nice. Toshiba in the
:04:30. > :04:33.news again for all the wrong reasons. Of course, we would know
:04:34. > :04:38.that it is hoping to sell its chip unit and use that money to cover
:04:39. > :04:43.more billions of dollars and overruns at its US unit, which is
:04:44. > :04:47.now bankrupt, but the sale of it has been delayed, in part because
:04:48. > :04:53.another US firm, Western Digital, has sought a court injunction to
:04:54. > :04:56.block the sale of the unit, and they operate Toshiba's main chip plant,
:04:57. > :05:00.and it's been squabbling with over an auction that could see the chip
:05:01. > :05:05.business end up with a rival company. Toshiba had been aiming to
:05:06. > :05:08.pick the preferred bidder for the business by today, but it's unlikely
:05:09. > :05:14.to come to decision just yet, and according to Reuters, Toshiba will
:05:15. > :05:20.seek to reach a definitive agreement on its unit sale by July 28, and of
:05:21. > :05:25.course, due to all of this, its shares are trading low today.
:05:26. > :05:28.Honestly, this saga is going on and on. Thank you for the latest on
:05:29. > :05:29.that. Delayed announcement yet again.
:05:30. > :05:34.A good day for you if you live and travel
:05:35. > :05:37.As of today, June 15th - so-called roaming charges
:05:38. > :05:40.for using mobile phones abroad are being outlawed by the EU
:05:41. > :05:42.after a decade-long battle between Brussels
:05:43. > :05:48.EU mobile users will now be able to use their allowance of calls
:05:49. > :05:51.and data in any member state without incurring those often
:05:52. > :05:57.Experts are warning though that phone companies may try to recoup
:05:58. > :06:09.From the German-Polish border, Joe Miller reports.
:06:10. > :06:16.Somewhere beneath my feet is the border between Germany and Poland.
:06:17. > :06:19.It's impossible to see exactly where because, welcome this is what modern
:06:20. > :06:24.European borders look like these days. But until recently, if you
:06:25. > :06:28.came anywhere near this vicinity, your mobile phone operator could
:06:29. > :06:32.switch randomly between German and Polish providers, and could cost you
:06:33. > :06:35.a lot of money. Thanks to Brussels, that's no longer the case, and
:06:36. > :06:41.locals here could not be more delighted. I go to Germany every
:06:42. > :06:48.day, and for me, it's amazing. I can go with my friends to another
:06:49. > :06:54.country, and I can ring my mum if I want. It's not just those who live
:06:55. > :06:58.near borders who are celebrating. Despite uncertainty over how much
:06:59. > :07:02.free data travellers will receive, and concerns over regulation, the EU
:07:03. > :07:08.isn't missing the chance to pay lip success. This is a historic
:07:09. > :07:17.achievement, and we could not have done it without the leading role of
:07:18. > :07:21.the parliament. The tourism industry is similarly jubilant, particularly
:07:22. > :07:26.those catering to solo travellers. I can just look at where I am, or I
:07:27. > :07:32.can just get in touch with anybody over Facebook. When I'm travelling
:07:33. > :07:36.alone, that's pretty important for me, and I think it might even
:07:37. > :07:40.encourage other people to travel alone more often, and I think that's
:07:41. > :07:44.pretty cool. Many in the border region have already signed up to a
:07:45. > :07:48.mobile phone provider that does not charge them extra every single time
:07:49. > :07:53.they cross the bridge behind me, but there is some concern that fees
:07:54. > :07:56.overall may rise as companies try to compensate for the revenue they
:07:57. > :08:00.blast from the abolition of roaming fees. But in an area that's so
:08:01. > :08:04.successfully consigned its physical borders to history, the abolition of
:08:05. > :08:07.the digital one is more than welcome.
:08:08. > :08:09.The UN-run International Civil Aviation Agency says it's reviewing
:08:10. > :08:13.a request from Qatar to intervene after its Gulf neighbours
:08:14. > :08:16.closed their airspace to Qatari flights.
:08:17. > :08:19.Saudi Arabia, the UAE, Bahrain and Egypt
:08:20. > :08:21.have cut diplomatic and transport ties with Qatar,
:08:22. > :08:25.accusing it of supporting terrorism.
:08:26. > :08:30.The ICAO says it will host talks at its Montreal HQ today to seek
:08:31. > :08:37.Volkswagen is to provide a two-year guarantee for the cars in Europe
:08:38. > :08:41.fitted with emissions cheating devices which it agreed to modify.
:08:42. > :08:44.A number of UK consumers have complained that the modifications
:08:45. > :08:47.have affected performance and reliability.
:08:48. > :08:50.The European Commission has been putting pressure on VW to compensate
:08:51. > :08:53.customers over its emissions scandal,
:08:54. > :09:03.as they have done in the US, but the company has refused.
:09:04. > :09:10.There are a lot of events to keep an eye on today. It's a real Central
:09:11. > :09:13.Bank week. We've got the Bank of England meeting, the bank of Japan
:09:14. > :09:18.meeting, so markets are grappling with lots of things. The Federal
:09:19. > :09:22.reserve, action in terms of the increase in interest rates, but also
:09:23. > :09:28.as well, basically the situation with regards to President Juncker
:09:29. > :09:33.again, and a report is investing -- President Juncker again, a wider
:09:34. > :09:39.probe into whether he attempted to obstruct justice. That's causing a
:09:40. > :09:43.wobble in the markets. Also, the UK Chancellor of the Exchequer, Philip
:09:44. > :09:51.Hammond, our finance minister, is set to make a case for a new path of
:09:52. > :09:55.Brexit when he speaks in a City of London annual Mansion House address.
:09:56. > :09:58.That's later today. Lots to watch out for.