Corporate defaults hit highest rate since 2010

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Companies across the world struggle to pay debts as the impact of higher interest rates starts to kick in, according to S&P. We look into the details. As US legislators discuss the future of TikTok in the country, we hear from a business that relies on the app to boost sales. And in Bangalore, also known as India's Silicon Valley, a severe water crisis is putting companies under stress. We hear more from our correspondent. (Picture: UK chain Wilko shut down after struggling to pay debts. Picture credit: PA.)