Are prices finally stabilising for American consumers? The latest numbers appear to suggest it's the case - and markets have reacted with optimism. We examine why the rate of inflation has slowed in the US, and whether the cooling-off will last.

Flooding in Pakistan has brought devastation to millions of lives. At the COP27 climate summit, the country's prime minister has warned the total bill could top $30 billion.

Also on World Business Report: the latest on the demise of crypto platform FTX, more bad news at Elon Musk's Twitter, and fast food chain KFC apologises for referencing the atrocities of Nazi Germany in a marketing campaign.